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Lithium Africa Announces C$5 Million Private Placement of Units
Lithium Africa Announces C$5 Million Private Placement of Units Canada NewsWire /N...
About this update from Lithium Africa Corp.
[{"type":"text","content":"\n\n\nLithium Africa Announces C$5 Million Private Placement of Units\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/LISBON, Portugal, March 2, 2026 /CNW/ - Lithium Africa Corp. (TSXV: LAF) (\"Lithium Africa Resources\" or the \"Company\") is pleased to announce that it has entered into an agreement pursuant to which ATB Cormark Capital Markets (the \"Agent\") has agreed to act agent, on a \"best efforts\" agency basis, in connection with a private placement of 2,500,000 units of the Company (the \"Units\") at a price of C$2.00 per Unit (the \"Issue Price\") for aggregate gross proceeds to the Company of C$5 million (the \"Offering\").\nEach Unit will be comprised of one common share in the capital of the Company (a \"Common Share\") and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share (a \"Warrant Share\") at an exercise price of C$2.80 per Warrant Share for a period of 3 years following the closing of the Offering.The Agent will have the option, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering, to sell an additional 375,000 Units at the Issue Price for additional gross proceeds of C$750,000.The net proceeds from the sale of the Units will be used as partial consideration in connection with the acquisition of the Springbok Project and for working capital and general corporate purposes. An overview of the Springbok Project and the transaction terms are provided in the Company's news release dated February 25, 2026.The Offering is expected to close on or about March 18, 2026, or such other date as the Company and the Agent may mutually agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange.The Offe...