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Nemaska Lithium Inc Announces a CAD2,200,443.92 Final Closing Offering


Monday, 11 Nov 2013 09:26am EST 

Nemaska Lithium Inc announced that it has closed the second tranche of a supplemental prospectus offering (the Offering) of an aggregate of 1,666,666 units, at a price of CAD0.12 per unit, for gross proceeds of CAD199,999.92 in connection with the short form base shelf prospectus of the Corporation dated March 4, 2013, as supplemented by the prospectus supplement no. 2 dated October 16, 2013, finalizing a CAD2,200,443.92 offering (the Offering), the first tranche of which was closed as of October 28, 2013. Each unit is comprised of one common share of Nemaska (a Common Share) and one-half of one Common Share purchase warrant. Subject to acceleration provisions as described in the Warrant Indenture entered into between the Corporation and Computershare Trust Company of Canada dated October 28, 2013, each whole Common Share purchase warrant is exercisable for a period of 24 months from the closing date of the Offering to purchase one Common Share at a price of CAD0.18. The net proceeds from the Offering will be used (i) to complete the permitting process for the mine and concentrator on the Whabouchi property, (ii) to complete the feasibility study for the Whabouchi project and the hydrometallurgical plant in Salaberry-de-Valleyfield and (iii) for general administrative expenses and other working capital. 

Company Quote

0.2
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1 Oct 2014