ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) has announced a non-brokered private placement financing to raise up to C$1.35 million by issuing nine million company units at a price of C$0.15 per unit.
The mineral exploration company said it intends to use the proceeds of the offering to fund the advancement and maintenance of its lithium projects in Nevada, Manitoba and Saskatchewan, as well as for general working capital purposes.
Each unit will be comprised of one company common share plus one-half of one transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of C$0.30 for two years from closing of the offering.
ACME noted it may pay a cash finder's fee of up to 7% of the gross proceeds raised under the offering at its discretion.
All securities that are issued pursuant to the offering will be subject to, among other things, a hold period of four months and one day in accordance with applicable Canadian securities laws.
ACME Lithium is a mineral exploration company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies.
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