Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) said on Monday it has completed a C$7 million brokered private placement to advance its lithium operations in Nevada.
The company issued 14.89 million units at C$0.47 each, with each unit comprising one common share and one warrant. The warrants allow investors to buy additional shares at C$0.65 per share over five years.
The financing was led by A.G.P. Canada Investments ULC as sole agent and bookrunner, with AGP/Alliance Global Partners acting as the US placement agent.
Proceeds from the offering will be used to fund the next phase of technical and permitting work at Century Lithium’s Angel Island project in Esmeralda County, Nevada, as well as general working capital needs.