AFX:CC - Arctic Fox Lithium Corp. Announces Non-Brokered Private Placement of Units
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA - TheNewswire - March 21, 2024 – Arctic Fox Lithium Corp. (CSE:AFX ) / ( FSE: O5K ) (“ ArcticFox ” or the “ Company ” ) ispleased to announce that it intends to complete anon-brokered private placement of units (the “ Units ”) at a priceof CDN$0.03 per Unit for aggregate gross proceeds of up to $150,000.Each Unit will consist of one common share in the capital of theCompany and one common share purchase warrant (each, a “ Warrant ”), witheach Warrant entitling the holder thereof to purchase one common shareof the Company at a price of CDN$0.06 for up to 24 months.
The first tranche of the private placement is expectedto close on or around March 26, 2024. It is anticipated that theproceeds from the private placement will be used for general workingcapital purposes.
All securities issued pursuant to the private placementdescribed above will be subject to a four-month and one-day holdperiod.
About Arctic Fox Lithium Corp.
Established in Vancouver, British Columbia, ArcticFox is a Canadian junior mining exploration company founded by an experienced management team to assess and growits portfolio into a leading company in lithium and rare earth elements. Through targeted exploration andintentional research, Arctic Fox is bringing a trustworthy lens to thedevelopment of sought-after resources frommultiple projects in Canada, focussing on properties in themining-friendly province of Québec.
On behalf of the Board of Directors,
“Harry Chew”
Harry Chew
President & CEO
Arctic Fox Lithium Corp.
For further information :
Harry Chew, President, CEO
Phone: (604) 689-2646
Further Information:
This press release shall not constitute an offer tosell or the solicitation of an offer to buy, nor shall there be anysale of these securities, in any jurisdiction in which such offer,solicitation or sale would be unlawful.
Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this pressrelease.
Forward-LookingInformation: This releaseincludes certain statements that may be deemed "forward-lookingstatements". All statements in this release, other thanstatements of historical facts, that address any activities and eventsor developments that Arctic Fox Lithium Corp. (" Arctic Fox ") expects to occur, areforward-looking statements. Although Arctic Fox believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, actual results or developments may differmaterially from those forward-looking statements. Forward-lookingstatements in this press release include, but are not limited to,statements relating to the private placement described herein,including but not limited to the anticipated timing for closing of thefirst tranche and the use of proceeds raised in the private placement.Factors that could cause actual results to differ materially fromthose in forward looking statements include: uncertainty with respectto the funds that will be raised in the private placement and thetiming of closing the first tranche; market prices; continuedavailability of resources required in order to continue exploration onArctic’s Fox’s properties; and general economic, market orbusiness conditions. These statements are based on a number of assumptions including, amongother things: assumptions relating to the timing for closing the firsttranche of the private placement described herein; assumptionsregarding general business and economic conditions; and Arctic Foxhaving sufficient resources to be able to conduct anticipatedexploration activities. Investors are cautioned that any suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those projected in theforward-looking statements. Arctic Fox does not assume any obligationto update or revise its forward-looking statements, whether as aresult of new information, future events or otherwise, except asrequired by applicable law.
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