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American Lithium Corp brings in $4.2mln gross from placing

Last updated: 16:23 01 Feb 2018 GMT, First published: 11:23 01 Feb 2018 GMT

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The firm issued 12 million units at 35 cents each

American Lithium Corp (CVE:LI) has completed a private placing to raise $4.2mln gross.

The firm issued 12 million units at 35 cents each.

Each unit consists of one share and one share purchase warrant. Each warrant entitles the holder to acquire an additional share of the company  for 75 cents for a period of 24 months.

The firm is focused on the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas.

It holds options to acquire Nevada lithium brine claims in Fish Lake Valley, Esmeralda County, and the San Emidio project in Washoe County.

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