ACME Lithium (ACME) has closed a non-brokered private placement for aggregate gross proceeds of $1,000,000.80.
The company issued 833,334 units priced at $1.20 per unit. Each unit consists of one flow-through common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $1.50 for two years.
Finder’s fees totalling $70,000.06 in cash and 58,333 compensation warrants were paid to Qwest Investment Fund Management Ltd.
ACME will use the gross proceeds for exploration at its 100 per cent owned Cat-Euclid and Shatford Lake lithium projects in southeast Manitoba.
All securities issued will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
ACME Lithium is a mineral exploration company focused on acquiring and developing battery metal projects.
ACME Lithium Inc. (ACME) opened trading at C$0.92 per share.