Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQB:PNXLF) announced that it has raised the size of its ongoing private placement from C$2.5 million to $3.05 million due to increased investor demand.
The placement, first announced on July 21, 2022, consists of 15,255,000 units at a price of $0.20 per unit.
Each unit comprises one common share and one transferrable common share purchase warrant, with each warrant entitling its holder to purchase one additional common share at a price of $0.38 for a period of two years.
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The company noted that the financing requires the approval of the TSX Venture Exchange, and that all securities to be issued as part of the financing are subject to a four-month hold period under applicable Canadian securities laws.
Argentina Lithium focuses on acquiring high-quality lithium projects in Argentina and advancing them toward production in order to meet the growing global demand from the battery sector.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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