POWR Lithium Corp. announced a a non-brokered private placement consisting of up to 10,000,000 units of the company at a price of CAD 0.20 per unit for gross proceeds of up to CAD 2,000,000 on August 31, 2023. Each unit shall consist of one common share and one-half of one share purchase warrant.

Each whole warrant shall entitle the holder thereof to purchase one additional share at a price of CAD 0.40 for a period of 24 months from the date of issue. The closing of the private placement is expected to occur on or about September 8, 2023, or any such later date as may be determined by the company. The company may pay finders' fees on a portion of the private placement, as permitted under applicable securities laws and the policies of the Canadian Securities Exchange.

Closing of the private placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals. All shares 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.