Advantage Lithium Announces Non-Brokered Financing to Raise $5,040,000
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 6, 2016) –Advantage Lithium Corp. (the “Company” or “Advantage Lithium“) (TSX VENTURE:AAL) announces that the Company will undertake a non-brokered private placement financing of up to 8,400,000 units at a price of $.60 per unit to raise gross proceeds of up to $5,040,000. Each unit comprises one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share for a term of two years from the closing date at a price of $.75 per share. Finder’s fees will be payable on a portion of the private placement. All securities issued will be subject to a four month hold period from the date of closing.
Said Mr. David Sidoo, President, “The Company continues to make strong and rapid progress, most recently closing the agreement on the lithium brine projects in Nevada and announcing a drill program at Clayton Valley NE, immediately adjacent to Albemarle. We have a clear goal to build shareholder value through strategic acquisitions and the drill bit, and this financing will provide us with the additional working capital required to aggressively pursue our objectives.”
The financing is subject to the approval of the TSX Venture Exchange. Proceeds of the financing will be used for working capital.
Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “AAL”. The company is earning an interest from Nevada Sunrise Gold Corp., in a portfolio of five lithium brine projects in the Clayton and Lida Valley regions of Nevada, USA, together with certificated water rights in the Clayton Valley.
ADVANTAGE LITHIUM CORP.
David Sidoo, President
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Advantage Lithium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Advantage Lithium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.