Business
Eureka Lithium Announces Date for Completing Second Tranche of Private Placement
Vancouver, British Columbia – TheNewswire - June 16th, 2023 – Eureka Lithium Corp. (CSE:ERKA) (“Eureka” or the “Company”) is pleased to announce that it intends
About this update from Eureka Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - June 16th, 2023 – Eureka Lithium Corp. (CSE:ERKA) (“Eureka” or the “Company”) is pleased to announce that it intends to close the second tranche of its non-brokered private placement on or about June 23, 2023. Eureka will now issue units of the Company - in place of subscription receipts (please see news release dated June 1, 2023) - on similar terms to the first tranche of the private placement. On June 1, the Company announced the closing of $5,185,200 under the first tranche; the Company expects to raise another approximately $1.71 million under the second tranche. The Second Tranche The Company expects to issue the following, for aggregate gross proceeds of up to approximately $1.71 million (the “Second Tranche”): non-flow-through units of the Company (the Non-FT Units”) at a price of $0.50 per Non-FT Unit for gross proceeds of approximately $1.24 million, with each Non-FT Unit comprised of one common share in the capital of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Non-FT Warrant”), with each Non-FT Warrant entitling the holder to purchase one common share (a “Non-FT Warrant Share”) at a price of $0.75 per Non-FT Warrant Share for a period of two years after the date of issuance; flow-through units of the Company (the FT Units”) at a price of $0.60 per FT Unit for gross proceeds of approximately $18,000, with each FT Unit comprised of one common share that qualifies as a “flow-through share” as defined in the Income Tax Act (Canada) and one-half of one flow-through common share purchase warrant that qualifies as a “flow-through share” as defined in the Income Tax Act (Canada) (each whole flow-through common share purchase warrant, a FT Warrant”), with each FT Warrant entitling the holder to purchase one common share in the capital of the Company (a “FT Warrant Share”) at a price of $0.85 per FT Warrant Share for a period of two years after the date of issuance; and, Quebec super-flow-through units of the Company (the Super FT Units”, and together with the Non-FT Units and FT Units, the “Units”) at a price of $0.65 per Super FT Unit for gross proceeds of approximately $455,000, with each Super FT Unit comprised of one common share that qualifies as a “flow-through share” as defined in the In...