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Lithos Group Ltd N.LITS

Alternate Symbol(s):  LITSF

Lithos Group Ltd., formerly Lithos Energy Ltd., is engaged in delivering sustainable lithium. The Company offers AcQUA, which is a patent-pending technology that spans the complete value chain from the conditioning and pre-treatment of raw brines through the direct lithium extraction (DLE) phase into the polishing and purification of battery grade lithium feedstock. The Company has two processing facilities: a 4,000 square feet (sq ft) lab in Denver, Colorado and a 55,000 sq ft complex in Bessemer, Alabama. The Company is engaged in a contract with multiple strategic mineral resource owners and processing brines from the Salars in Chile and Argentina, and the Smackover reservoir in the Southeastern United States. The Company’s wholly owned subsidiary is Aqueous Resources LLC.


NEO:LITS - Post by User

Post by kegmanon Feb 27, 2024 8:24am
101 Views
Post# 35900965

Financing

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
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