Each Unit will consist of one common share of the Company (each a 'Common Share') and one common share purchase warrant (each, a 'Warrant' and collectively the 'Warrants'). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of
The Company has granted the Underwriters an option to purchase up to an additional 15% of the Units at the Issue Price. The Over-Allotment Option may be exercised in whole or in part to purchase Shares, Warrants or Units as determined by the Underwriters upon written notice to the Company at any time up to 30 days following the Closing Date (the 'Over-Allotment Option').
The Company intends to use the net proceeds of the Offering to pursue land acquisitions, for exploration expenditures and for general corporate purposes.
The Offering will be completed (i) by way of a short form prospectus to be filed in the provinces of
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in
In connection with the Offering, the Underwriters will receive a cash commission of 7.0% of the gross proceeds of the Offering and that number of non-transferable compensation options (the 'Compensation Options') as is equal to 7.0% of the aggregate number of Units sold under the Offering. Each Compensation Option is exercisable into one Common Share of the Company at the Issue Price for a period of 24 months from the closing date of the Offering.
The Offering is expected to close on or about
Contact:
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Email: info@alphalithium.com
About
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. While these statements reflect management's current plans, projections, and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. The Company's actual results, programs, production decisions (if any) activities and financial position could differ materially from those expressed in or implied by these forward-looking statements. The Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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