OTCQX:SREMF - Post by User
Post by
M1DASon Mar 05, 2013 10:03pm
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Post# 21084214
perspective
perspective now all they are adding is 5% to current share count (approx) all for a good cause NO doubt CLQ glta
Canada Lithium Corp. and the syndicate of underwriters led by Casimir Capital Ltd. have agreed to amend and revise the terms of its previously announced public offering. Under the revised terms, the underwriters have agreed to purchase, on a bought-deal basis, 17,867,778 units of the company, at a price of 73 cents per unit, for aggregate gross proceeds of approximately $13-million, by way of a short-form prospectus. Each unit will consist of one common share of Canada Lithium and one-half of one common share purchase warrant. Each warrant will be exercisable for a period of two years following the closing of the offering at an exercise price of 85 cents per warrant. The company has granted the underwriters an overallotment option to purchase additional units up to 15 per cent of the offering for a period of 30 days following the closing. The company will use the proceeds to finance initial stages of several previously announced capital projects, and for working capital and general corporate purposes. The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities. The financing is anticipated to close on or about March 25, 2013.