Vision Lithium arranges $750,000 private placement
2024-12-23 08:35 ET – News Release
Mr. Yves Rougerie reports
VISION LITHIUM ANNOUNCES FLOW-THROUGH PRIVATE PLACEMENT
Vision Lithium Inc. has arranged a non-brokered flow-through private placement for minimum aggregate gross proceeds of $500,000 and maximum aggregate gross proceeds of $750,000. The offering will consist of a minimum of 16,666,666 common shares and a maximum of 25 million common shares of the company at a price of three cents per share, each qualifying as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).
The gross proceeds from the offering will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical-mineral mining expenditures, as such terms are defined in the Income Tax Act (Canada), related to the company’s projects in Quebec. All qualifying expenditures will be renounced in favour of the subscribers of the flow-through shares effective Dec. 31, 2024.
Yves Rougerie, president and chief executive officer of the company, commented: “Proceeds from this placement will go towards exploration of our Sirmac property lithium and cesium targets we have developed over the past year. The recent high-grade cesium discovery on the property with values as high as 1.94 per cent caesium monoxide (see Dec. 2, 2024, release) will require further geophysics, ground prospecting, geological mapping, trenching and sampling to develop this new and very exciting target. Work is also planned for the known lithium-rich areas of the property in search of new discoveries.”
All securities issued under the offering are subject to a hold period of four months and one day from their date of issuance. The offering remains subject to the acceptance of the TSX Venture Exchange. The company may pay finders’ fees, in accordance with TSX-V policies.
About Vision Lithium Inc.
Vision Lithium is a junior exploration company focused on exploring and developing high-quality mineral assets, including lithium and copper, in Canada. The company is led by skilled and qualified mineral exploration experts and business professionals with a deep understanding of the battery materials market, which is driven by lithium-ion batteries. Vision Lithium completed a preliminary economic assessment on its Sirmac lithium project in 2023. The PEA is available on the company’s website and on SEDAR+. The company is committed to discovering new, world-class assets and bringing these assets to production, starting with its advanced Sirmac lithium property in Quebec and Godslith lithium property located in Manitoba, and a group of base-metal-rich nickel-copper-cobalt and/or copper-zinc-silver-gold properties in eastern Quebec and New Brunswick.
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