Consolidated Lithium Closes First Tranche of Private Placement Financing
Summary
None of the proceeds are expected to be used to make payments to Persons conducting Investor Relations Activities (as such terms are defined in the policies of the TSXV) Approximately 25% of the gross proceeds is expected to be used to satisfy current and future payment obligations owing to Non-Arms Length Parties (as such term is defined in the policies of the TSXV). Each Finders Warrant entitles the holder thereof to acquire one Common Share at a price of $0.05 at any time prior to April 2, 2027.Richard Quesnel, the chief executive officer and a director of the Company, and Brett Lynch, the executive chairman of the Company, each subscribed for 10,000,000 Units pursuant to the First Tranche (the Insider Participation). Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Consolidated Lithium to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.