Business
Infinite Announces Flow Through and Non-Flow Financings
VANCOUVER, BC / ACCESSWIRE / December 16, 2019 / Infinite Lithium Corp. ("ILI" or the "Compa...
About this update from Imagine Lithium Inc
[{"type":"text","content":"Infinite Announces Flow Through and Non-Flow FinancingsVANCOUVER, BC / ACCESSWIRE / December 16, 2019 / Infinite Lithium Corp. (\"ILI\" or the \"Company\") (TSXV:ILI) (OTCQB:ARXRF) announces that it has arranged a non-brokered private placement of up to 10 million flow-through units (\"FT Units\") at a price of $0.08 per Unit for aggregate gross proceeds of $800,000.00 (the \"FT Offering\"). Each Unit will be comprised of one flow through common share (\"FT Share\") and one-half of one transferable non-flow through Share purchase warrant of the Company (\"Warrant\"). Each full Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.12 per share. Proceeds raised from the FT Offering will be used towards drilling, prospecting and other related activities on the Company's newly acquired, contiguous properties (collectively named \"Eastern Vision\") located in the Red Lake area of Northwestern Ontario.In conjunction with the flow through financing the Company further announces that it has arranged a non-brokered private placement of up to 10 million units (\"Units\") at a price of $0.05 per Unit for aggregate gross proceeds of $500,000.00 (the \"Offering\"). Each Unit will be comprised of one common share (\"Share\") and one-half of one transferable Share purchase warrant of the Company (\"Warrant\"). Each full Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.10 per share. Proceeds raised from the Offering will be used for general working capital and unallocated funds as per Tier 2 status requirements.Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.These offerings are subject to TSX Venture Exchange acceptance.About Infinite Lithium Corp.Infinite Lithium is a junior mining exploration company focused on advancing the newly acquired Eastern Vision property located in the Red Lake area of Northwestern Ontario.Please visit our website located at http://www.infinitelithium.com/.ON BEHALF OF THE BOARD\"John Masters\"John Masters, DirectorFOR FURTHER INFORMATION, PLEASE CONTACT: Telephone: 1-604-683-3995Toll Free: 1-888-945-4770Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is...