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Frontier Lithium Closes Flow Through Financing
Frontier Lithium Closes Flow Through Financing Canada NewsWire SUDBURY, ON, Jan....
About this update from Frontier Lithium Inc.
[{"type":"text","content":"\n\n\n\nFrontier Lithium Closes Flow Through Financing\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, Jan. 13, 2020\n\n\n\nSUDBURY, ON, Jan. 13, 2020 /CNW/ - Frontier Lithium Inc. (TSX.V: FL) (the \"Company\") announces the closing of a non-brokered Flow Through private placement offering for a total of 1,629,346 units (\"Units\") of the Company priced at $0.34 per Unit, for total gross proceeds of $554,008.24. Each Unit consists of one (1) Common Share of the Company and one-half (½) share purchase warrant (the \"Warrant\"). Each full Warrant entitles the holder thereof to purchase one (1) additional common share of Frontier Lithium at an exercise price of $0.45 for a period of twenty-four (24) months from the date of issuance. In connection with the CDN $554,008.24 offering, the Company issued finder's fees of CDN $33,240.48 and 97,766 finder warrants.\n\n \n \n\n \nAll of the Shares and Warrants issued pursuant to the private placement are subject to a minimum 4-month and one day statutory hold period. Proceeds from the financing will be used to advance exploration of Frontier's 100% owned PAK Lithium Project located in northwestern Ontario.\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 2,000 tonnes of Lithium Carbonate Equivalent (\"LCE\") for premium glass producers. The Company's secondary objective is to ramp up production of concentrates to 20,000 tonnes of LCE and to build a downstream processing facility to produce lithium chemicals required by glass and battery materials producers.\nFrontier maintains a tight share structure with management ownership exceeding 30% of the Company....