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Standard Lithium Announces $20 Million Bought Deal Private Placement of Units
Standard Lithium Announces $20 Million Bought Deal Private Placement of Units Cana...
About this update from Standard Lithium Ltd.
[{"type":"text","content":"\n\n\n\nStandard Lithium Announces $20 Million Bought Deal 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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 23, 2018\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nVANCOUVER, Jan. 23, 2018 /CNW/ - Standard Lithium Ltd. (\"Standard Lithium\" or the \"Company\") (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L) announced today that it has entered into an agreement with Canaccord Genuity Corp., as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters (the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on a bought deal, private placement basis, 9,530,000 units of the Company (the \"Units\"), at a price of $2.10 per Unit (the \"Offering Price\") for aggregate gross proceeds of $20 million (the \"Offering\").\n\nThe Company has also granted the Underwriters an option (the \"Underwriters' Option\") to purchase up to an additional 1,429,500 Units at the Offering Price, exercisable in whole or in part at any time for a period of 48 hours prior to the closing of the Offering. If the Underwriters' Option is exercised in full, the aggregate gross proceeds of the Offering will be $23 million.\n\nEach Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will be exercisable to acquire one common share of the Company (a \"Warrant Share\") for a period of 24 months following the closing of the Offering at an exercise price of $2.60 per Warrant Share. Net proceeds from the Offering will be used for exploration and development activities on the Company's properties and for general corporate purposes.\n\nAll securities issued or issuable under the Offering will be subject to a statutory hold period lasting four months and one day following the closing of the Offering.\n\nClosing of the Offering is expected to occur on or ab...