Company offers 10,825,000 common shares at C$0.30 per share in deal
By Devika Patel
Knoxville, Tenn., Dec. 29 – Lithium X Energy Corp. said it settled a C$3.25 million non-brokered private placement of stock on Dec. 24.
The company sold 10,825,000 common shares at C$0.30 per share. The price per share is a 28.57% discount to the Dec. 23 closing share price of C$0.42.
Insiders Brian Paes-Braga, Paul Matysek and Frank Giustra participated.
Proceeds will be used for exploration and development of the company's Clayton Valley North Project and general working capital.
The lithium exploration and development company is based in Vancouver, B.C.
| Issuer: | Lithium X Energy Corp.
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| Issue: | Common shares
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| Amount: | C$3,247,500
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| Shares: | 10,825,000
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| Price: | C$0.30
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| Warrants: | No
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| Agent: | Non-brokered
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| Investors: | Brian Paes-Braga, Paul Matysek and Frank Giustra
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| Settlement date: | Dec. 24
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| Stock symbol: | TSX Venture: LIX
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| Stock price: | C$0.42 at close Dec. 23
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| Market capitalization: | C$4.06 million
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