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FRONTIER CLOSES C$23 MILLION BOUGHT DEAL PROSPECTUS OFFERING
FRONTIER CLOSES C$23 MILLION BOUGHT DEAL PROSPECTUS OFFERING Canada NewsWire ...
About this update from Frontier Lithium Inc.
[{"type":"text","content":"\n \n \n \n FRONTIER CLOSES C$23 MILLION BOUGHT DEAL PROSPECTUS OFFERING\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n SUDBURY, ON\n \n \n ,\n \n \n Nov. 10, 2022\n \n \n /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) (the \"Company\") is pleased to announce that it has closed its previously announced bought deal prospectus offering (the \"Offering\"). Pursuant to the Offering, the Company issued 10,465,000 units (the \"Units\") of the Company, including 1,365,000 Units issued in connection with the exercise in full of the over-allotment option granted to the Underwriters (as defined below) in connection with the Offering, at a price of\n \n C$2.20\n \n per Unit (the \"Offering Price\"), representing total gross proceeds of\n \n C$23,023,000\n \n .\n \n \n \n \n \n \n \n \n \n The Offering was completed through a syndicate of underwriters co-led by RBC Capital Markets and Goldman Sachs Canada Inc. (the \"Joint Bookrunners\"), and including BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Cormark Securities Inc. and Stifel Nicolaus Canada Inc. (collectively with the Joint Bookrunners, the \"Underwriters\"). The Underwriters received a cash commission equal to 5.5% of the gross proceeds of the Offering.\n \n \n Each Unit consists of one common share of the Company (a \"Common Share\") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a \"Warrant Share\") at a price of\n \n C$2.75\n \n for a period of 36 months following the closing of the Offering.\n \n \n The net proceeds of the Offering will be used by the Company to fund exploration and development activities at the PAK Lithium Project, located in\n \n Northwestern Ontario\n \n , as well as general administration and cor...