Vision Lithium closes $500,000 private placement
2024-12-31 12:45 ET – News Release
Mr. Yves Rougerie reports
VISION LITHIUM ANNOUNCES CLOSING OF FLOW-THROUGH PRIVATE PLACEMENT
Vision Lithium Inc. has completed a non-brokered private placement of 16,666,666 common shares in the capital of the company, 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), at a price of three cents per share for aggregate gross proceeds of $500,000.
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.
In connection with the offering, the company paid an eligible third party dealing at arm’s length with the company: (i) a cash commission totalling $30,000, representing 6 per cent of the proceeds raised from subscribers introduced to the company by such finder; and (ii) an aggregate of 999,999 non-transferable brokers’ warrants, representing 7 per cent of the number of flow-through shares sold to such subscribers, each exercisable to acquire one common share of the company for two years from the date of issuance at exercise price of five cents per share.
All securities issued under the offering are subject to a hold period of four months and one day from their date of issuance, expiring April 27, 2024. The offering remains subject to the final acceptance of the TSX Venture Exchange.
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.
We seek Safe Harbor.
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