- United Lithium Corp. (ULTH) has closed a private placement for gross proceeds of C$7,000,000
- Under the offering, the company issued 50,000,000 units priced at $0.14 per unit
- Net proceeds will be used for exploration of the company’s properties and for general working capital
- United Lithium Corp. is an exploration & development company
- United Lithium Corp. (ULTH) opened trading at C$0.39 per share
United Lithium Corp. (ULTH) has closed its previously-announced private placement raising gross proceeds of C$7,000,000.
Under the offering, the company issued 50,000,000 units priced at $0.14 per unit. Each unit consists of one common share and one share purchase warrant entitling the holder to acquire one additional share at a price of $0.25 until March 6, 2025.
The company intends to use the net proceeds for exploration of its properties and for general working capital.
All securities issued are subject to resale restrictions until July 7, 2023.
The offering included participation by the Chief Executive Officer of the company in the amount of $310,000.
About United Lithium Corp.
United Lithium Corp. is an exploration & development company targeting lithium projects.
United Lithium Corp. (ULTH) opened trading at C$0.39 per share.