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ACME Lithium Announces $4.2 Million Follow-On Financing from Waratah Capital Advisors and Probity Mining Flow-Through Fund
Vancouver, British Columbia--(Newsfile Corp. - May 3, 2022) - ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") is pleased to announce tha
About this update from Surface Metals Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 3, 2022) - ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the \"Company\", or \"ACME\") is pleased to announce that it has entered into a binding term sheet with the Waratah Electrification and Decarbonization AIE LP for a non-brokered private placement (the \"Private Placement\") through the issuance of 2,963,500 units (the \"Units\") at a price of CN$1.08 per Unit for aggregate gross proceeds of CN$3,200,580.00, or approximately US$2,500,000. The Units will consist of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of CN$1.40 per share for three (3) years. ACME has also arranged a non-brokered flow-through financing with Probity Mining 2022 Short Duration Flow-Through Limited Partnership. The Flow-Through Private Placement (\"FT Private Placement\") will consist of 666,668 units (the \"FT Units\") at a price of CN$1.50 per Unit for aggregate gross proceeds of CN$1,000,002.00. The FT Units consist of one flow-through common share and one-half of one non-flow through common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of CN$1.80 per share for two (2) years. The Company will pay a finder's fee in the amount of 7% of the proceeds of FT Private Placement in cash to an arms' length party and will issue warrants entitling the holder to acquire such number of shares as is equal to 7% of the FT Units issued under the FT Private Placement at an exercise price of $1.50 per share for a period of two years from the date of issuance. ACME will use the proceeds of the Private Placement for exploration at its 100% owned Cat-Euclid and Shatford Lake lithium projects in southeast Manitoba and its Clayton Valley and Fish Lake Valley, Nevada projects, as well as general working capital purposes. The proceeds of the FT Private Placement will be used for exploration at ACME's 100% owned Cat-Euclid and Shatford Lake lithium projects in southeast Manitoba. All securities that are issued pursuant to the Private Placement with be subject to, among other things, a hold period of four months and one day in accordance to applicable Canadian securities laws. In Nevada, ACME is in the final process of permitting at its Clayton Vall...