Critical Elements Announces Upsizing of Previously Announced Bought Deal Private Placement

About this update from Critical Elements Lithium Corporation

[{"type":"text","content":"Critical Elements Announces Upsizing of Previously Announced Bought Deal Private PlacementTHIS NEWS RELEASE IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.MONTREAL, QC / ACCESSWIRE / January 22, 2021 / Critical Elements Lithium Corporation (the \"Corporation\" or \"Critical Elements\") (TSXV:CRE)(OTCQX:CRECF)(FSE:F12) is pleased to announce that in connection with its previously announced bought deal private placement offering (the \"Offering\"), the Corporation and a syndicate of underwriters led by Paradigm Capital Inc. and Cantor Fitzgerald Canada Corporation (the \"Co-Lead Underwriters\") and including Stifel GMP and Raymond James Ltd. (together with the Co-Lead Underwriters, the \"Underwriters\") have agreed to increase the size of the Offering to raise total gross proceeds of $15,000,040. The Corporation will now issue 13,636,400 Units of the Corporation at $1.10 per Unit (the \"Issue Price\").Each Unit of the Corporation will consist of one common share in the capital of the Corporation (a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant a \"Warrant\"). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of $1.75 for a period of two years following the Closing Date.Given the upsize to the Offering, the parties have agreed to remove the previously announced Underwriters' option.The net proceeds from the Offering will be primarily used for exploration and development, and general working capital purposes.The Offering is expected to close on or about February 11, 2021 (the \"Closing Date\") and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange (the \"TSX-V\"). The securities issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering. The Offering is subject to final acceptance of the TSX-V.The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell ...

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