Non-brokered deal sold 8 units of one share and one warrant at C$0.15
By Devika Patel
Knoxville, Tenn., July 7 – Millennial Lithium Corp. said it completed a C$1.2 million non-brokered private placement of units.
The company sold 8 million units of one common share and one warrant at C$0.15 per unit.
Each warrant is exercisable at C$0.30 for two years. The strike price is a 53.85% discount to the July 6 closing share price of C$0.65.
Proceeds will be used for general working capital and development of the Lincoln Lithium Property.
Vancouver, B.C.-based Millennial, formerly Redhill Resources Corp., is a resource exploration company.
| Issuer: | Millennial Lithium Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.2 million
|
| Units: | 8 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | July 7
|
| Stock symbol: | TSX Venture: ML
|
| Stock price: | C$0.65 at close July 6
|
| Market capitalization: | C$7.14 million
|
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