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United Lithium Corp. Announces up to $8.0 Million Private Placement Offering of Special Warrants
VANCOUVER, BC / ACCESSWIRE / February 12, 2021 / United Lithium Corp. (CSE:ULTH) (OTC PINK:ULTHF) (FWB:0UL) ("ULTH" or the "Company") is pleased to announce tha
About this update from United Lithium Corp
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / February 12, 2021 / United Lithium Corp. (CSE:ULTH) (OTC PINK:ULTHF) (FWB:0UL) (\"ULTH\" or the \"Company\") is pleased to announce that it has entered into an agreement with Mackie Research Capital Corporation, as lead agent and sole bookrunner (the \"Agent\"), in connection with a best-efforts private placement offering (the \"Offering\") of a minimum of $5,000,000 and up to a maximum of $8,000,000 in special warrants of the Company (the \"Special Warrants\") at a price equal to $0.66 per Special Warrant (the \"Offering Price\"). Each Special Warrant shall be exercisable, for no additional consideration at the option of the holder, into one unit of the Company (each, a \"Unit\"), with each Unit being comprised of one common share of the Company (a \"Common Share\") and one half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share (each, a \"Warrant Share\") at an exercise price of $0.85 per Warrant Share for a period of 24 months after Closing (the \"Expiry Date\"). The Company has granted the Agent an option (the \"Over-Allotment Option\") to purchase up to an additional 15% of the number of Special Warrants issued pursuant to the Offering to cover any over-allotments, exercisable at any time 48 hours prior to the Closing (as defined herein) of the Offering. The net proceeds raised under the Offering will be used for working capital and general corporate purposes, and for funding potential future acquisition opportunities. As soon as reasonably practicable after the Closing, the Company will use its reasonable commercial efforts to prepare and file with each of the securities regulatory authorities in each of the provinces of Canada, other than Quebec, in which the of Special Warrants are sold (the \"Jurisdictions\") and obtain a receipt for, a preliminary short form prospectus and a final short form prospectus (which may, in the discretion of the Company, be in the form of a final base shelf prospectus and supplement thereto) qualifying the distribution of the Units underlying the Special Warrants (the \"Final Prospectus\"), in compliance with applicable securities law, within one-hundred twenty (120) days from the Closing of the Offering. In the event that the Company has not received a receipt for the...