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Tantalex Lithium Resources Announces Private Placement of Up To USD$1.5m and Management Changes
Toronto, Ontario, March 21, 2025 – TheNewswire - Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) (“Tantalex” or the “Corporation”) is plea
About this update from Tantalex Lithium Resources Corp
[{"type":"text","content":"Toronto, Ontario, March 21, 2025 – TheNewswire - Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) (“Tantalex” or the “Corporation”) is pleased to announce a non-brokered private placement consisting of approximately 86,000,000 common shares (the “Common Shares”) at a price of CDN$0.025 per Common Share for gross proceeds of up to USD$1,500,000 (the “Private Placement”). The number of Common Shares to be issued is subject to change depending on the foreign exchange rate of the US currency to Canadian currency to be determined on the closing date. There will be no finders’ fees paid on the Private Placement. Certain insiders of the Corporation, including Mr. Simon Collins, director, and Afrimet Resources Ag may acquire Common Shares in the Private Placement. Any participation by insiders in the Private Placement would constitute a “related party transaction\" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). However, the Corporation expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Common Shares subscribed for by the insiders, nor the consideration for the Common Shares paid by such insiders, would exceed 25% of the Corporation’s market capitalization. The proceeds of the Private Placement will be used for project expenditures related to the optimization of the TiTan tin and tantalum plant and for general working capital. All securities issued pursuant to the Private Placement will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities law. The Common Shares being referred to in this news release have not been, nor will they be, registered under the United States (U.S.) Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Management Changes The Corporation also wishes to announce that it has mutually ag...