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Snow Lake Lithium Announces Closing of Premium Priced Flow-Through Offering of CDN$7.7 Million
Winnipeg, Manitoba--(Newsfile Corp. - September 21, 2023) - Snow Lake Resources Ltd., d/b/a Snow Lake Lithium™ (NASDAQ: LITM) ("Snow Lake" or the "Company") is
About this update from Frontier Nuclear And Minerals Inc.
[{"type":"text","content":" Winnipeg, Manitoba--(Newsfile Corp. - September 21, 2023) - Snow Lake Resources Ltd., d/b/a Snow Lake Lithium™ (NASDAQ: LITM) (\"Snow Lake\" or the \"Company\") is pleased to announce that, further to its press release dated September 18, 2023, it has closed its best-efforts flow-through financing of 2,133,979 of its common shares (each, a \"Share\") at a price of CDN$3.6117 (US$2.67) per Share for gross proceeds of CDN$7,707,291.95 (US$5,697,709.73) (the \"Offering\"). The proceeds of the Offering will be used exclusively to further the Company's lithium exploration and development programs in Manitoba. The Shares were offered for purchase and sale to purchasers in the province of Manitoba on a private placement basis under Canadian law. The Offering was registered under applicable United States securities laws pursuant to a registration statement on Form F-3 filed with, and previously declared effective by, the United States Securities and Exchange Commission under the United States Securities Act of 1933, as amended. The Company entered into an agreement dated September 14, 2023, with Oberon Capital Corporation (\"Purchaser Agent\") to act as agent for the purchasers in connection with this Offering. The Purchaser Agent was not paid a fee in connection with this offering and was reimbursed CA$67,800 for reasonable fees and disbursements and taxes thereon of U.S. counsel and Canadian counsel to Oberon. The Company also entered into an agreement dated August 1, 2023 and amended September 13, 2023 with Roth Capital Partners, LLC (the \"Resale Agent\") to serve as placement agent for resale of the shares purchased in this Offering. In connection with the public offering (the \"Public Offering\"), the Company filed a prospectus dated August 4, 2023 (the \"Shelf Prospectus\") and the Shelf Prospectus supplement dated September 18, 2023 (the \"Supplement\") to the Shelf Prospectus relating to the issuance of the publicly offered Shares. The Public Offering price of the Shares offered under the Supplement and the accompanying Shelf Prospectus was determined based upon arm's-length negotiations among the purchasers, the Resale Agent and the Company. The Resale Agent was issued a 86,000 common share purchase warrant at $2.67 per share (the \"Resale Agent Warrant\"). The Resale Agent Warrant will expire five (5) years from the date her...