Business
Lithium Chile Announces Proposed Private Placement
(TheNewswire) CALGARY, ALBERTA - TheNewswire - October 25, 2021 -...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Announces Proposed Private Placement \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n CALGARY, ALBERTA -\n \n \n TheNewswire\n-\n \n \n October 25, 2021\n \n \n -\nLithium Chile Inc. (“\n \n \n Lithium\nChile\n \n \n ” or the “\n \n \n Company\n \n \n ”)\n \n \n (TSXV:LITH) (OTC:LTMCF)\n \n \n announces that it plans to complete a non-brokered private\nplacement of up to 4,166,667 units of the Company (“\n \n \n Units\n \n \n ”) at a price\nof $0.60 per Unit, for aggregate gross proceeds of up to $2,500,000.\n(the “\n \n \n Offering\n \n \n ”), after receiving sizeable unsolicited interest from\ninvestors based in Europe. There is no minimum Offering.\n \n \n Each Unit will be comprised of one (1) common share of the\nCompany (“\n \n \n Common\nShare\n \n \n ”) and one (1) Common Share purchase\nwarrant (“\n \n \n Warrant\n \n \n ”). Each Warrant shall be exercisable\nat $0.75 per Common Share for a period of 24 months from the date of\nclosing of the Offering. Lithium Chile may pay a cash commission or\nfinder's fee to qualified non-related parties of up to 5% of the gross\nproceeds of the Offering.\n \n \n The proceeds of the\nOffering will be used for working capital and to pay the expenses of\nthe Offering.\n \n \n \n \n The Offering is being offered to all of the existing\nshareholders of the Company who are permitted to subscribe pursuant to\nthe Existing Shareholder Exemption. The Company anticipates that the\nOffering will close on or around November 5, 2021. Any existing\nshareholders interested in participating in the Offering should\ncontact the Company pursuant to the contact information set forth\nbelow.\n \n \n \n \n The Company has set October 20, 2021 as the record date\nfor determining existing shareholders entitled to subscribe for Units\npursuant to the Existing Shareholder Exemption. Subscribers purchasing\nUnits under the Existing Shareholder Exemption will need to represent\nin writing that they meet certain requirements of the Existing\nShareholder Exemption, including that they were, on or before the\nrecord date, a shareholder of the Company and continue to be a\nshareholder as at the closing date. The aggregate acquisition cost to\na subscriber under the Existing Shareholder Exemption cannot exceed\n$15,000...