Offering sells 11 million units of one common share and one warrant
By Devika Patel
Knoxville, Tenn., Oct. 23 - Lithium Corp. said it plans a $550,000 non-brokered private placement of units with Altura Mining Ltd.
The company will sell 11 million units of one common share and one warrant at $0.05 per unit.
The two-year warrants are each exercisable at $0.10 in the first year and at $0.15 in the second year. The strike prices are 66.67% and 150% premiums to the Oct. 26 closing share price of $0.06.
Reno, Nev.-based Lithium explores for clean energy sources.
| Issuer: | Lithium Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $550,000
|
| Units: | 11 million
|
| Price: | $0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike prices: | $0.10 in the first year, $0.15 in the second year
|
| Agent: | Non-brokered
|
| Investor: | Altura Mining Ltd.
|
| Pricing date: | Oct. 29
|
| Stock symbol: | OTCBB: LTUM
|
| Stock price: | $0.06 at close Oct. 19
|
| Market capitalization: | $3.71 million
|
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