OTCQX:NTTHF - Post Discussion
Post by
retiredcf on Apr 01, 2021 2:02pm
Globe & Mail
01:39 PM EDT, 04/01/2021 (MT Newswires) -- Neo Lithium Corp. (NLC.V) has filed and obtained a receipt for a final short form prospectus in Ontario, Alberta, B.C. and Nova Scotia. This is in connection with its previously completed private placement of 9.9 million special warrants for gross proceeds of $30.2 million. The Prospectus qualifies the distribution of the 9.9 million common shares underlying the special warrants that will each be exercised for one underlying share for no additional consideration and without further action on the part of the holders.
As a result of obtaining the receipt, the special warrants shall be deemed to be exercised, and 9.9 million underlying shares will be issued, effective at 9:00 a.m. (Toronto time) on April 6, 2021. The offering was led by Stifel GMP, as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters.
The company has also filed a revised annual information form for the year ended December 31, 2019 (the AIF), and an amended technical report for the 3Q Lithium Project, following a review of the preliminary prospectus filed in connection with the Offering dated March 3, 2021 by the Ontario Securities Commission.
The AIF has been revised to include additional disclosure about the prevailing global lithium price environment to provide readers with additional context for the use of the lithium price sensitivity analysis in the 3Q Report. Neo Lithium expects to commission a new long-term lithium carbonate price forecast for the economic assumptions in the expected definitive feasibility for the 3Q Project.
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