Business
Consolidated Lithium Metals Announces First Tranche Closing of Private Placement Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ...
About this update from Consolidated Lithium Metals Inc
[{"type":"text","content":"Consolidated Lithium Metals Announces First Tranche Closing of Private Placement Financing \nNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, March 18, 2026 (GLOBE NEWSWIRE) -- Consolidated Lithium Metals Inc. (TSXV: CLM | FRA: Z36 | OTCQB: JORFF) (“CLM” or the “Company”) is pleased to announce that it has closed the first tranche of its previously announced non-brokered offering (the “Offering”) of securities of the Company. The Company obtained aggregate gross proceeds of approximately $7,885,000 by issuing securities, in a combination of: 27,500,000 units of the Company (each, a “LIFE Unit”) that were issued pursuant to the Listed Issuer Financing Exemption (as defined herein) and other available exemptions from Canadian prospectus requirements at a price of $0.08 per LIFE Unit for an aggregate of $2,200,000 in gross proceeds. Each LIFE Unit consists of one common share of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”);23,437,502 flow-through shares of the Company (each, a “Critical FT Share”) at a price of $0.096 per Critical FT Share for an aggregate of $2,250,000 in gross proceeds. Each Critical FT Share consists of one Common Share that will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”); and28,625,000 flow-through units of the Company that were issued as part of a charity arrangement (each, a “Charity FT Unit” and collectively, with the LIFE Units and Critical FT Shares, the “Offered Securities”) at price of $0.12 per Charity FT Unit pursuant to the Listed Issuer Financing Exemption, for an aggregate of $3,435,000 in gross proceeds. Each Charity FT Unit consists of one Common Share and one-half of one Warrant that will each qualify as a “flow-through share” within the meaning of subsection 66(15) of the Tax Act. Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.12 until March 17, 2029. Warrants sold pursuant to the Listed Issuer Financing Exemption are not exercisable until May 16, 2026. Richard Quesnel, CLM&#x...