Securities due in 18 months; deal funds Valleyview Project advancement
By Devika Patel
Knoxville, Tenn., June 9 - Lithium Exploration Group Inc. said it sold $1.5 million of 12% convertible debentures in a private placement.
The debentures are due in 18 months.
Proceeds will be used to advance the Valleyview Project in Alberta.
The Scottsdale, Ariz.-based company explores for lithium.
Issuer: | Lithium Exploration Group Inc.
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Issue: | Convertible debentures
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Amount: | $1.5 million
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Maturity: | 18 months
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Coupon: | 12%
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Warrants: | No
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Settlement date: | June 9
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Stock symbol: | OTCBB: LEXG
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Stock price: | $1.87 at close June 8
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Market capitalization: | $90.45 million
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