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Lithium Chile Announces Closing of the Second Tranche of its Private Placement
Lithium Chile Announces Closing of the Second Tranche of its Private Placement Can...
About this update from Lithium Chile Inc
[{"type":"text","content":"\n\n\n\nLithium Chile Announces Closing of the Second Tranche of its Private Placement\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\n\nCanada NewsWire\nCALGARY, March 5, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ \n\nTSX Venture Exchange: \"LITH\"\n\nPrivate Placement \n\n\n\nCALGARY, March 5, 2018 /CNW/ - Lithium Chile Inc. (\"Lithium Chile\" or the \"Corporation\") is pleased to announce that it has, subject to TSX Venture Exchange Inc. (the \"TSXV\") final approval, closed the second tranche of its previously announced non-brokered private placement (the \"Private Placement\") of units of the Corporation (\"Units\"), pursuant to which, Lithium Chile issued an aggregate of 720,000 Units for gross proceeds of CDN$720,000 (the \"Second Tranche\"). Each Unit is comprised of one (1) common share in the capital of the Corporation (a \"Common Share\") and one-half (1/2) of one common share purchase warrant of the Corporation (a \"Warrant\"). Each whole Warrant entitles the holder thereof to purchase one (1) Common Share at a price of $1.50 per share expiring two (2) years from the date of issuance.\n\nIn connection with the closing of the Second Tranche, Lithium Chile has paid finders a cash commission of 7% of the proceeds of the Second Tranche that resulted from such party's efforts, subject to compliance with applicable securities laws.  The finders have also been granted broker warrants to purchase 7% of the number of Common Shares sold under the Second Tranche as a result of such parties efforts, which resulted in Lithium Chile issuing an aggregate 50,400 broker warrants. Each broker warrant entitles the holder to purchase one Common Share at a price of CDN$1.00 for a period of eighteen (18) months from the closing of the Second Tranche. \n\nThe net proceeds of the Second Tranche and the Private Placement will be used by the Corporation for general working capital and to fund continued development and exploration activities on its Lithium properties in Chile. \n\nPursua...