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Lithium South Announces Closing Oversubscribed Non-Brokered Private Placement
Lithium South Announces Closing Oversubscribed Non-Brokered Private Placement P...
About this update from Lithium South Development Corporation
[{"type":"text","content":"\n \n \n \n Lithium South Announces Closing Oversubscribed Non-Brokered Private Placement\n \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 \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 26, 2021\n \n /PRNewswire/ --\n \n Lithium South Development Corporation\n \n (the \"Company\") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) announces that, due to high demand, it has closed its oversubscribed non-brokered private placement (the \"Private Placement\") issuing an aggregate of 16,150,000 units (the \"Units\") at a price of CDN\n \n $0.40\n \n per Unit raising gross proceeds of CDN\n \n $6,460,000\n \n .\n \n \n Each Unit is comprised of one common share (a \"Share\") and one transferable common share purchase warrant (a \"Warrant\").  Each Warrant will allow the holder to purchase one Share of the Company at a price of CDN\n \n $0.60\n \n per Share for a period of three (3) years from the date of closing of the Private Placement.\n \n \n Proceeds of the Private Placement will be used to advance the Company's HMN Lithium Project, located in\n \n Salta Province\n \n ,\n \n Argentina\n \n , and for general working capital purposes.\n \n \n All securities issued will be subject to a four month hold period and the Exchange Hold Period.\n \n \n The Company paid finder's fees of CDN\n \n $426,368\n \n and issued 1,065,920 finder's warrants (the \"Finder's Warrants\") to\n \n Nathan Rotstein\n \n and Canaccord Genuity Corp.  The Finder's Warrants are non-transferable and exercisable at CDN\n \n $0.60\n \n per Finder's Warrant for a period of three (3) years.\n \n \n Company President\n \n Adrian F. C. Hobkirk\n \n quoted, \"We are pleased to have received such strong support from the investment community. This financing will allow the Company to complete its objective of potentially expanding the high-quality lithium resource at the HMN Li Project and moving it forward to a Feasibility Study.\"\n \n \n \n About Lithium South\n \n \n \n Lithium South is focused on developing the Hombre Muerto North Lithium Project (HMN Li Project), located on ...