Non-brokered offering funds work on Lithium project, working capital
By Devika Patel
Knoxville, Tenn., July 29 – Alset Energy Corp. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell up to C$300,000 of flow-through units of one flow-through common share and one half-share warrant at C$0.38 per unit, as well as units of one common share and one warrant at C$0.30 per unit.
Each whole warrant is exercisable at C$0.50 for 18 months. The strike price represents a 31.58% premium to the July 28 closing share price of C$0.38.
Proceeds will be used for work on the company's Lithium project in Mexico, graphite and lithium properties in Ontario and general working capital purposes.
The Thunder Bay, Ont., company explores for base metals and platinum group metals.
| Issuer: | Alset Energy Corp.
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| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
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| Amount: | C$2 million
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.50
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| Agent: | Non-brokered
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| Pricing date: | July 29
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| Stock symbol: | TSX Venture: ION
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| Stock price: | C$0.38 at close July 28
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| Market capitalization: | C$17.92 million
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| Flow-through units
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| Amount: | C$300,000 (maximum)
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| Price: | C$0.38
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| Warrants: | One half-share warrant per unit
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| Units
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| Price: | C$0.30
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| Warrants: | One warrant per unit
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