Common stock sold at 110% premium to a single investor
By Melissa Kory
Cleveland, May 12 - Lithium Exploration Group, Inc. issued 190,470 shares of common stock, or around $1 million, in a private placement, according to an 8-K filed with the Securities and Exchange Commission.
The shares were issued to a single investor at $5.25 per share, a 110% premium to the May 11 closing price of $2.50.
Lithium Exploration is a Scottsdale, Ariz.-based junior miner with a focus on the development potential of lithium brines in Canada and South America.
| Issuer: | Lithium Exploration Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $999,967.50
|
| Shares: | 190,470
|
| Price: | $5.25
|
| Warrants: | No
|
| Settlement date: | May 10
|
| Stock symbol: | Nasdaq: LEXG
|
| Stock price: | $2.50 at close May 11
|
| Market capitalization: | $79.06 million
|
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