By Angela McDaniels
Tacoma, Wash., Sept. 25 - Western Lithium Canada Corp. said it increased the size of its private placement of units to C$16.6 million. The deal priced for C$15.2 million on Sept. 2.
The company now plans to sell up to 17,476,000 units, increased from 16 million, for C$0.95 each.
Each unit consists of one common share and one half-share warrant. The whole warrants will be exercisable at C$1.25 for 18 months.
GMP Securities LP, Byron Capital Markets and Haywood Securities Inc. are the lead agents.
The settlement date was extended to Oct. 7 from Sept. 22.
Proceeds will be used to fund engineering and development studies for the company's lithium project in Nevada and for drilling and general corporate purposes.
Based in Vancouver, B.C., Western Lithium is a lithium resource company.
| Issuer: | Western Lithium Canada Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$16,602,200
|
| Units: | 17,476,000
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25
|
| Agents: | GMP Securities LP, Byron Capital Markets and Haywood Securities Inc. (leads)
|
| Pricing date: | Sept. 2
|
| Upsized: | Sept. 25
|
| Settlement date: | Oct. 7
|
| Stock symbol: | TSX Venture: WLC
|
| Stock price: | C$1.00 at close Sept. 1
|
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