Business
First Lithium Minerals Announces Private Placement of up to $6 Million
Toronto, Ontario--(Newsfile Corp. - May 25, 2026) - First Lithium Minerals Corp. (CSE: FLM) (OTC Pink: FLMCF) (FSE: X28) ("First Lithium" or the "Company") is pleased to announce a private placement of: (i) up to 44,856,810 units of the Company (each, a "NFT Unit") at a price of $0.11 per NFT Unit for aggregate gross proceeds of up to approximately $4,934,249. Each Unit is comprised of: (A) one (1) common share of the Company (each, a "Common Share"); and (B) one-half of one (1/2) common share..
About this update from First Lithium Minerals Corp.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 25, 2026) - First Lithium Minerals Corp. (CSE: FLM) (OTC Pink: FLMCF) (FSE: X28) ("First Lithium" or the "Company") is pleased to announce a private placement of: (i) up to 44,856,810 units of the Company (each, a "NFT Unit") at a price of $0.11 per NFT Unit for aggregate gross proceeds of up to approximately $4,934,249. Each Unit is comprised of: (A) one (1) common share of the Company (each, a "Common Share"); and (B) one-half of one (1/2) common share purchase warrant (each, whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one (1) Common Share at a price of $0.18 for a period of three (3) years commencing 60 days after the Closing Date (as hereinafter defined); and (ii) up to 3,333,333 units of the company (each, a "FT Unit") at a price of $0.15 per FT Unit for gross proceeds of up to approximately $500,000. Each FT Unit is comprised of (A) one (i) Common Share of the Company that qualifies as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") (each, a "FT Share"); and (B) one-half of one Warrant, for aggregate gross proceeds of up to approximately $5,434,249 (the "LIFE Offering").","length":1332,"tagName":"p"},{"type":"text","content":"The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's Lidstone Gold Project in Ontario. The Company intends to use the net proceeds of the offered NFT Units for exploration drilling and brine sampling at the Ascotan Lithium Project in Chile and working capital and general corporate purposes. Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units will be incurred (or deemed to be incurred) by the Company on or before December 31, 2027, and will be renounced by the Company to the initial purchasers of the FT Units with an effective date no later ...