Business
Arctic Fox Lithium Closes Second Tranche of Non-Brokered Flow-Through and Non-Flow-Through Units
VANCOUVER, BRITISH COLUMBIA (August 27, 2024) – TheNewswire – Arctic Fox Lithium Corp. (CSE: AFX / FSE: O5K) (the “Company”) is pleased to announce that, furthe
About this update from Arctic Fox Lithium Corp
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA (August 27, 2024) – TheNewswire – Arctic Fox Lithium Corp. (CSE: AFX / FSE: O5K) (the “Company”) is pleased to announce that, further to its press releases dated July 16, 2024 and July 29, 2024, it has closed the second tranche of its non-brokered private placement of flow-through units (“FT Units”) non-flow-through units (“NFT Units”) through the issuance of 1,750,000 FT Units at a price of $0.02 per FT Unit and 1,901,667 NFT Units at a price of $0.015 per NFT Unit for total gross proceeds of $63,525. The FT Units are composed of one common share in the capital of the Company and one common share purchase warrant (a “FT Warrant”). Each FT Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company for a period of 24 months from the closing date at an exercise price of $0.05. The Company intends to use the proceeds from the sale of the FT Units for eligible exploration expenditures. The NFT Units are composed of one common share in the capital of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company for a period of 24 months from the closing date at an exercise price of $0.05. The Company intends to use the proceeds from the sale of the NFT Units for general working capital. All securities comprising the FT Units and the NFT Units are subject to a four-month and one day hold period from the closing date. No finders’ fees were paid in connection with the issuance of the Units. About Arctic Fox Lithium Corp. Arctic Fox Lithium Corp. is a junior mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals. The Company’s 2,859-hectare Pontax North Lithium Project (“Pontax North”) is located 12 km south of Allkem Ltd. (ASX/TSX:ALLKEM) (“Allkem”) James Bay Lithium Project (Proven & Probable Reserves of 37.3 Mt @ 1.27% Li2O ; Measured & Indicated Resources of 54.3 Mt @ 1.30% Li2O - NI 43-101 Technical Report dated September 29, 2023) and 12 km north of Stria Lithium Inc.’s (CSE:SRA) Pontax Lithium Project (non NI 43-101 conformable Inferred Resource of 10.1 Mt at 1.04% Li2O - Stria Press Release dated August 14, 2023), located in northern Québec, appro...