Financing LITHOS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Lithos Group Ltd. has arranged a non-brokered private placement of up to 2,857,143 units at a price of 70 cents per unit for gross proceeds of up to $2-million. Each Unit will consist of one common share (each, a "Share") in the capital of the Company and one transferable share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one additional Share (each, a "Warrant Share") in the capital of the Company for a period of three years from the closing date at an exercise price of $0.90 per Warrant Share.
Proceeds from the Offering will be used for payment of current payables, working capital, business development and for completion of client pilot projects. Insiders of the Company may participate in the Offering. Finder's fees may be payable in connection with the Offering in accordance with the policies of the Cboe.
All securities issued in connection with the Offering will be subject to a four month hold from the closing date.
I bet this is already completely filled. Explains the walk back. Friends and family sale and now we can go to a dollar when this is finalized. How high can it go if we get one of the big fish? Then the grant? $5M more. No dilution. GLTA