United Lithium Corp (CSE:ULTH, OTC:ULTHF) told investors it has raised C$2 million in gross proceeds after completing the non-brokered private placement it announced last month.
As previously stated, the company intends to use the net proceeds for further exploration of its properties and for general working capital.
No finders’ fees or commissions were paid in connection with completion of the offering, which saw 6,666,667 units issued at a price of C$0.30 apiece, each of which is comprised of one common share and one warrant entitling the holder to acquire one additional share at a price of C$0.40 until April 15, 2027.
United Lithium CEO Scott Eldridge spent $13,500 as part of the offering, with fellow director Henrik Lundin forking out $16,500.