ARGENTINA – Toronto-based Neo Lithium Corp. has entered into a $20-million bought deal financing with Sprott Capital Partners.
A view of the Neo Lithium camp at Tres Quebradas.
Neo Lithium will issue 18.18 million units at a price of $1.10 per unit. Each unit will be comprised of one common share and one-half of one share purchase warrant. Each whole warrant shall be exercisable for one share at a price of $1.40 per share for a period of 18 months.
The net proceeds of the offering will be used primarily to advance Neo Lithium’s Tres Quebradas lithium project in Catamarca. The property contains a lithium brine resource from which 500 km sample has been taken for process studies that indicated solar evaporation is sufficient to recover the lithium salts.
More information about Neo Lithium is available at www.NeoLithium.ca.