Li-Metal Corp. announces private placement of 5,161,500 units at a issue price of CAD 0.20 per unit for gross proceeds of CAD 1,032,300 and common shares for proceeds of CAD 13,749,200, resulting in aggregate gross proceeds of CAD 14,781,500 on April 19, 2024. Each unit consists of one common share and one-half of one share purchase warrant.

Each Warrant will entitle the holder to acquire one additional common share at an exercise price of CAD 0.867 per common share for a period of three years from the date of closing of the issue. The transaction will include participation from Blue Horizon Advisors LLC. The Units, and the underlying securities, will be subject to certain resale restrictions, such as a hold period of four months and a day from the Closing Date.

The transaction is subject to the approval of CSE. The transaction is expected to close on April 25, 2024.