Business
Edison Lithium Announces Non-Brokered Private Placement and Grant of Options
Vancouver, British Columbia--(Newsfile Corp. - September 8, 2023) - Edison Lithium Corp. (TSXV:...
About this update from Edison Lithium Corp.
[{"type":"text","content":"Edison Lithium Announces Non-Brokered Private Placement and Grant of OptionsVancouver, British Columbia--(Newsfile Corp. - September 8, 2023) - Edison Lithium Corp. (TSXV: EDDY) (FSE: VV00) (\"Edison\" or the \"Company\") is pleased to announce a non-brokered private placement of up to 4,000,000 units (the \"Units\") of the Company at a price of $0.12 per Unit for aggregate gross proceeds of up to $480,000 (the \"Private Placement\"). Each Unit shall consist of one (1) common share (\"Share\") in the capital of the Company and one (1) Share purchase warrant (\"Warrant\"), whereby each Warrant shall be exercisable by the warrant holder to purchase one (1) additional Share at a price of $0.20 for a period of 24 months from the date of closing (the \"Closing Date\") of the Private Placement.Securities issuable in connection with the Private Placement will be subject to a statutory four-month hold period under applicable Canadian securities laws commencing on the Closing Date. The proceeds of the Private Placement will be used to fund the Company's projects and for general working capital purposes.In consideration of the introduction to the Company of investors in the Private Placement, finder's fee may be paid in cash and/or securities of the Company in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the \"Exchange\"). Completion of the Private Placement will be subject to receipt of all necessary regulatory approvals, including the acceptance of the Exchange.It is anticipated that insiders of the Company may participate in the Private Placement. Any such participation will constitute a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company intends to rely on the exemption from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(a) of MI 61-101 and the exemption from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI 61-101. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Se...