Li3 Lithium Corp. completes personal placement of $1,605,000

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TORONTO, Ontario–(Newsfile Corp. – November 4, 2022)- Li3 Lithium Corp. (TSXV:LILI) (“Li3 Lithium” both “firm“) is happy to announce that it has accomplished the beforehand introduced non-broker personal placement on October 21, 2022 (“personal placement“) for a complete gross earnings of $1,605,000. The personal placement concerned the issuance of 16,050,000 models (“models“) at a worth of $0.10 per unit. Every unit consists of 1 (1) widespread share within the firm’s capital inventory (a “widespread share“) and one-half (1/2) warrants. Every warrant in full will give the holder the correct to buy one widespread share for $0.20 at any time inside two years after closing.

All securities issued pursuant to non-public placement shall be topic to a maintain interval of 4 months and at some point from the date of challenge and the resale guidelines of the relevant securities legislation. Web proceeds from the sale of models will probably be used for normal working capital functions and to help in conducting due diligence of potential enterprise alternatives. The closure of the personal placement is topic to sure situations, together with, however not restricted to, acquiring all crucial regulatory and different approvals, together with the approval of the TSX Enterprise Alternate (“tsxv,

A bodily change report in respect of the personal placement shall be filed not lower than 21 days previous to the shut of the personal placement. The Firm believes that this shorter interval is suitable and crucial within the circumstances because the Firm needed to finish the personal placements on time.

About Li3 Lithium Corp.
Li3 Lithium is concentrated on buying and creating exhausting rock spodumene lithium belongings in Zimbabwe and Argentina, the place the founders have vital expertise and relationships. As evidenced by current market developments, exhausting rock lithium deposits are projected to dominate the worldwide provide of lithium, given the paucity, complexity and capex-intensive nature of different brine sources. At the moment, spodumene focus is buying and selling at a document excessive worth of US$ 5,500/tonne and is anticipated to maneuver greater.

Zimbabwe Mutare Lithium Challenge
In April 2022, Li3 Lithium acquired Li3 Sources Inc. earned 50% curiosity inLi3 Sources“), a personal, lithium-focused exploration firm based and backed by senior mining executives with prior success within the lithium business. Li3 Sources has entered right into a binding three way partnership settlement (“three way partnership settlement“) to amass as much as 50% curiosity within the Mutare Lithium Challenge (“”Mutare Lithium Challenge“) from London AIM-listed Premier African Minerals Ltd.

The Mutare Lithium Challenge covers 1,500 hectares licensed inside Zimbabwe’s Mutare Greenstone Belt, positioned near the japanese border with Mozambique. The realm was thought-about potential for lithium-cesium-tantalum (LCT) sort pegmatites primarily based on prior goal building work. Administration believes that the lithium exploration potential of the Mutare Greenstone Belt is just like that of the Pilbara Craton pegmatites in Western Australia.

Zimbabwe is estimated to have Africa’s largest lithium reserves, however stays comparatively undeveloped as a consequence of lack of funding. The Mutare Lithium Challenge is positioned in an space of ​​Zimbabwe that’s now gaining vital curiosity. The Dawa blocks are effectively positioned and, in lots of situations, have attracted curiosity from worldwide lithium producers, which is anticipated to additional broaden curiosity and funding within the sector.

An exploration program has begun on the Mutare Lithium Challenge to be executed in three phases to incorporate useful resource identification, delineation and improvement.

contact data,
Li3 Lithium Corp.
Stephen Dunn, CEO
Tel: 416-361-2827
E-mail: [email protected]
www.lithium3.com

warning assertion:

Neither TSXV nor its Regulating Service Supplier (as outlined in TSXV’s insurance policies) accepts duty for the adequacy or accuracy of this launch.

This information launch incorporates sure “forward-looking data” inside the which means of relevant securities legal guidelines. Ahead-looking data is usually characterised by phrases comparable to “plan”, “anticipate”, “venture”, “intend”, “consider”, “estimate”, “estimate”, “could”, “will”, “will”. , “seemingly”, “proposed” and different comparable phrases, or statements that “may very well be” or “will probably be” sure occasions or situations. These statements are solely predictions. Ahead-looking data relies on administration’s opinion and estimates on the date the data is offered, and is topic to quite a lot of dangers and uncertainties and different elements that would trigger precise occasions or outcomes to vary materially from these projected forward. can. – Viewing data. For an outline of the dangers and uncertainties dealing with the Firm and its enterprise and affairs, readers ought to consult with the Firm’s Administration Dialogue and Evaluation. If circumstances or administration’s estimates or opinions ought to change, except required by legislation, the Firm undertakes no obligation to replace additional data. Readers are cautioned to not rely unnecessarily on forward-looking data.

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/143104.

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