Securities due in 18 months; deal funds Valleyview Project advancement
By Devika Patel
Knoxville, Tenn., June 9 - Lithium Exploration Group Inc. said it sold $1.5 million of 12% convertible debentures in a private placement.
The debentures are due in 18 months.
Proceeds will be used to advance the Valleyview Project in Alberta.
The Scottsdale, Ariz.-based company explores for lithium.
| Issuer: | Lithium Exploration Group Inc.
|
| Issue: | Convertible debentures
|
| Amount: | $1.5 million
|
| Maturity: | 18 months
|
| Coupon: | 12%
|
| Warrants: | No
|
| Settlement date: | June 9
|
| Stock symbol: | OTCBB: LEXG
|
| Stock price: | $1.87 at close June 8
|
| Market capitalization: | $90.45 million
|
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