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Frontier Lithium Announces $500,000 Flow Through Financing
SUDBURY, ON / ACCESSWIRE / November 27, 2018 / Frontier Lithium Inc. (TSX-V: FL) (the "Compa...
About this update from Frontier Lithium Inc.
[{"type":"text","content":"Frontier Lithium Announces $500,000 Flow Through FinancingSUDBURY, ON / ACCESSWIRE / November 27, 2018 / Frontier Lithium Inc. (TSX-V: FL) (the \"Company\") has proposed a non-brokered flow-through private placement offering for a total of 1,190,476 units (\"Units\") of the Company priced at $0.42 per Unit, for total gross proceeds of $500,000.The Common Shares to be issued under a unit offering of 1,190,476 units (\"Units\") at a subscription price of $0.42 per Unit. Each Unit shall consist of one (1) Common Share of the Company and one-half (1/2) share purchase warrant (the \"Warrant\"). Each full Warrant shall entitle the holder thereof to purchase one additional common share of Frontier Lithium at an exercise price of $0.50 for a 30-month period from the closing (the \"Offering\").All of the Shares and Warrants issued pursuant to the flow-through private placement are subject to a minimum 4-month hold period. Proceeds from the financing will be used to advance exploration of Frontier's 100% owned PAK Lithium Project located in northwestern Ontario.Frontier has reserved the opportunity to grant to eligible persons a finder's fee of a maximum 6% of the gross proceeds of the Offering and finder options of a maximum of 6% of the total number of Units sold under the Offering. Each finder option will be exercisable at an exercise price of $0.48 into one common share for a period of 30 months from the date of issuance.About Frontier Lithium Inc.Frontier Lithium is a Canadian junior mining company and have the largest land position in the Electric Avenue, a newly emerging premium lithium-metal district hosted in the Canadian Shield of northwestern Ontario. Frontier is implementing a phased approach to development for becoming a producer of technical grade lithium concentrates required to produce premium glass/ceramics as well as supplying a byproduct of chemical grade concentrates for the production of lithium hydroxide required for the burgeoning lithium battery industry.Frontier's goal is to become a low-cost, fully integrated lithium producer through development of the PAK lithium deposit in Ontario, Canada. Frontier maintains a tight share structure with management ownership exceeding 30% of the Company. The deposit boasts its lithium in a rare, high-purity, low-iron spodumene and is analogous to the Greenbushes' Deposit in SW A...