- Frontier Lithium ( OTCQX:LITOF ) -8.4% announces bought deal offering of 9.1M units at C$2.20/unit for ~C$20M.
- Offering is facilitated through underwriters co-led by RBC Capital Markets & Goldman Sachs & Co LLC.
- Each unit shall consist of one common share and one-half of one common share purchase warrant of the Company.
- Each warrant will entitle the holder thereof to purchase one common share at $2.75 for 36 months after offering closes.
- Underwriters have an option to purchase up to 1.4M additional units at offering price.
- Net proceeds will be used to fund exploration and development activities at the PAK Lithium development project, general administration and corporate purposes.
- Source: Press Release
For further details see:
Frontier Lithium raises C$20 million in bought deal offering