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NOA Lithium Announces Upsize of Non-Brokered Private Placement to $7.5 Million
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO,...
About this update from Noa Lithium Brines Inc
[{"type":"text","content":"NOA Lithium Announces Upsize of Non-Brokered Private Placement to $7.5 MillionNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATESTORONTO, ON / ACCESSWIRE / May 17, 2023 / NOA Lithium Brines Inc. (TSXV:NOAL) (\"NOA\" or the \"Company\") announces that further to the Company's press release dated May 12, 2023, due to market demand, the Company has increased its non-brokered private placement (\"Private Placement\") to approximately 18,750,000 units (the \"Units\") at a price of $0.40 per Unit to raise gross proceeds of approximately $7,500,000. All amounts are expressed in Canadian dollars.Each Unit shall consist of one common share (a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable into one Common Share at an exercise price of $0.60 for a period of 36 months from the date of issuance.The Company plans to use the proceeds of the Private Placement for exploration of its properties, primarily to accelerate its current drill campaign at its flagship Rio Grande project. The Private Placement is subject to a statutory 4-month and one day hold period from the date of issuance. The Private Placement remains subject to approval by the TSX Venture Exchange and applicable securities regulatory authorities.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.About NOA Lithium Brines Inc.NOA is a lithium exploration and development company formed to acquire assets with significant resource potential. All NOA's projects are in the heart of the prolific Lithium Triangle, in the mining-friendly province of Salta, Argentina, near a multitude of projects and operations owned by industry leaders. NOA has rapidly consolidated one of the largest lithium brine claim portfolios in this region that is not owned by a producing company, with key positions on three prospecti...