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Eureka Lithium Closes Second Tranche of Private Placement for Aggregate Gross Proceeds of $6,681,782
Vancouver, British Columbia, June 26th, 2023 – Eureka Lithium Corp. (CSE:ERKA) (OTC:SCMCF) (FWB:S580) (“Eureka” or the “Company”) is pleased to announce, furthe
About this update from Eureka Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia, June 26th, 2023 – Eureka Lithium Corp. (CSE:ERKA) (OTC:SCMCF) (FWB:S580) (“Eureka” or the “Company”) is pleased to announce, further to its news release dated June 16, 2023, that it has closed the second tranche of its non-brokered private placement (the “Offering”), having issued 2,783,164 Units for gross proceeds of $1,496,582 (the “Second Tranche”). Eureka had previously closed the first tranche of the Offering, as noted in the Company’s news release dated June 1, 2023, for gross proceeds of $5,185,200. The Company issued an aggregate of 12,336,589 Units pursuant to the Offering, for aggregate gross proceeds of $6,681,782. The Second Tranche The Company issued the following, for aggregate gross proceeds of $1,496,582 million: 2,083,164 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 $1,041,582 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; 700,000 Quebec super-flow-through units of the Company (the Super FT Units”, and together with the Non-FT Units, the “Units”) at a price of $0.65 per Super FT Unit for gross proceeds of $455,000, with each Super 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 “Super FT Warrant”), with each Super FT Warrant entitling the holder to purchase one common share in the capital of the Company (a “Super FT Warrant Share”) at a price of $0.85 per Super FT Warrant Share for a period of two years after the date of issuance. The Company paid finder’s fees totaling $81,340.75 and issued 151,471 broker warrants (each, a “Broker Warrant”) to certain finders in connection with the sale of the Subscription Receipts to purchasers introduced to the Company by such f...