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Frontier Announces Oversubscribed Flow Through Private Placement
Frontier Announces Oversubscribed Flow Through Private Placement Canada NewsWire ...
About this update from Frontier Lithium Inc.
[{"type":"text","content":"\n\n\n\nFrontier Announces Oversubscribed Flow Through Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSUDBURY, ON, Dec. 18, 2019\n\n\n\nSUDBURY, ON, Dec. 18, 2019 /CNW/ - Frontier Lithium Inc. (TSX.V: FL) (the \"Company\") announces that it has received interest above the previously announced $354,000, and accordingly intends to increase the amount to be raised under its non-brokered private placement offering to $564,000.24, subject to TSXV approval. All other terms of the offering remain as set out in the Company's December 17, 2019 news release.\n\n \n \n\n \nThe company now proposes to issue 1,658,823 units (\"FT Unit\") at a price of $0.34 each. Each FT Unit will consist of one common share in the capital stock of Frontier (\"Common Share\") issued on a flow-through basis and a ½ Common Share purchase warrant (\"FT Warrant\"). Each full FT Warrant will entitle the holder to purchase one Common Share at a price of $0.45 per Common Share until the date which is 24 months following the closing date of the Offering, whereupon the FT Warrants expire. The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period.\nFrontier Lithium reserves the opportunity to grant to eligible persons a finder's fee of a maximum 6% of the gross proceeds of the Offering and finder warrants of a maximum of 6% of the total number of Units sold under the Offering. Each finder warrant will be exercisable at an exercise price of $0.45 CDN into one common share for a period of 24 months from the date of issuance\nAbout Frontier Lithium Inc.\nFrontier Lithium is a Canadian junior mining company with the largest land position in the Electric Avenue, an emerging premium lithium mineral district located in the Canadian Shield of northwestern Ontario. The company's PAK Lithium Deposit contains North America's highest concentration of rare low-iron spodumene. Frontier Lithium's objective is to firstly become a near term producer of premium technical grade lithium mineral concentrates of 2,0...