Century Lithium Corp. (TSXV: LCE) has successfully closed the second and final tranche of its listed issuer financing exemption offering (LIFE Offering), raising approximately C$4.7M in total. During the final closing, the company issued 6.23M units at C$0.30 each, bringing the combined total of units issued to nearly 15.8M.
Each unit comprises one common share and one warrant, allowing holders to purchase an additional share at C$0.45 over the next five years. Additionally, broker fees included about C$118,650 in cash and 395,500 compensation warrants, which are exercisable at C$0.30 over a three-year period.
A closely watched detail: certain company directors participated by purchasing 168,333 units in the initial close. However, the financing was structured to comply with related-party transaction rules and remains within thresholds that exempt it from formal valuation or minority shareholder approval under multilateral instrument 61-101.
To find out more, please visit www.centurylithium.com
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