Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) has announced a further amendment to the terms of its previously disclosed financing under the listed issuer financing exemption (LIFE).
Under the updated terms, the company plans to raise a minimum of $1 million and up to $5 million through the sale of up to 16.67 million units priced at $0.30 per unit.
Each unit comprises one share and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of $0.45.
As part of the amendment, Century Lithium has extended the warrant term from 24 months to 60 months.
The company has also removed the accelerated expiry provision, which previously would have shortened the warrant expiry to 30 calendar days if the company’s shares traded above $0.80 for 15 consecutive trading days.
The offering is expected to close in tranches, beginning with an initial closing on or around August 1, and a final closing on or before August 24.