/NOT FOR DISTRIBUTION TO
Each Unit will consist of one common share (a "Common Share") in the capital of the Company and one Common Share purchase warrant (a "Warrant") of the Company. Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") at a price per Warrant Share of
The Company has granted the agent an option to purchase up to an additional 15% of the Offering in Units, exercisable in whole or in part at any time up to 48 hours prior to the closing date.
The net proceeds from the sale of the Units will be used to fund advancement of the Company's solar product suite and for working capital purposes.
The Offering is expected to close on or about
In connection with the Offering, the agent 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 securities offered have not been registered under the
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ON BEHALF OF THE BOARD OF DIRECTORS,
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements concerning the Offering and the use of the net proceeds therefrom, as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. Neither the
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