LibertyStream Announces Closing of LIFE Offering

About this update from Libertystream Infrastructure Partners Inc.

[{"type":"text","content":"LibertyStream Announces Closing of LIFE Offering\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n\n\n\n LibertyStream Infrastructure Partners Inc.\n \n (TSXV: LIB | OTCQB: VLTLF | FSE: I2D) (“\n \n LibertyStream\n \n ” or the “\n \n Company\n \n ”) is pleased to announce that it has closed its previously announced private placement of units (the “\n \n Units\n \n ”) of the Company (the “\n \n Offering\n \n ”) for aggregate gross proceeds of $12,499,999.60 through the issuance of 11,363,636 Units at a price of $1.10 per Unit.\n \n\n Each Unit is comprised of one common share of the Company (each, a “\n \n Common Share\n \n ”) and one whole common share purchase warrant (each, a “\n \n Warrant\n \n ”). Each Warrant entitles the holder thereof to purchase one Common Share (each, a “\n \n Warrant Share\n \n ”) at an exercise price of $1.50 per Warrant Share for a period of thirty-six months following the completion of the Offering.\n \n\n The Offering was completed on a private placement basis in reliance on the “listed issuer financing exemption” from the prospectus requirements available under Part 5A.2 of National Instrument 45-106 –\n \n Prospectus Exemptions\n \n , as modified by Coordinated Blanket Order 45-935 –\n \n Exemptions from Certain Conditions of the Listed Issuer Financing Exemption in each of the Provinces and Territories of Canada\n \n (the “\n \n LIFE Exemption\n \n ”). In accordance with the LIFE Exemption, the securities issued pursuant to the Offering are not subject to a hold period pursuant to applicable Canadian securities laws.\n \n\n The net proceeds from the Offering will be used to develop the Company’s direct lithium extraction technology to improve operating efficiencies; continue the scale-up of lithium carbonate production at its field unit in the Permian Basin in Texas, including moving towards commercial lithium production; create avenues to provide lithium carbonate and other lithium product samples to potential future customers and off-takers; and for general working capital and corporate purposes.\n \n\n Certain C...

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