LithiumBank Resources Corp.: Announces Offering of Units and Flow-Through Units
Calgary, Alberta – LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”), a lithium exploration and development company, recently announced an offering (the “Offering”) to raise up to $5,000,000 in gross proceeds. The Offering includes the sale of:
Units
A minimum of 5,714,285 Units and a maximum of 8,571,428 Units. Each Unit will consist of:
- One common share in the capital of the Company (a “Share”); and
- One-half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”).
The Units will be sold at a price of $0.35 per Unit.
Flow-Through Units
Up to 5,000,000 flow-through units (the “FT Units”). The FT Units will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada). Each FT Unit will consist of:
- One common share in the capital of the Company; and
- One-half of one common share purchase warrant.
The FT Units will be sold at a price of $0.40 per FT Unit.
Impact on Individual Investors
The Offering provides an opportunity for individual investors to invest in LithiumBank and potentially benefit from its growth. The sale of Units and FT Units at a discounted price allows investors to acquire more shares than they would otherwise be able to afford. Moreover, the inclusion of purchase warrants grants investors an additional opportunity to increase their holdings if the Company’s share price rises above a specified price.
Impact on the World
The mining industry and the world economy are becoming increasingly reliant on lithium as the demand for electric vehicles continues to grow. LithiumBank’s exploration and development efforts contribute to the global supply of lithium, which is essential in the production of batteries for electric vehicles. The successful completion of the Offering will enable LithiumBank to advance its projects and potentially bring new sources of lithium to market, contributing to the global transition towards renewable energy.
Conclusion
LithiumBank Resources Corp.’s Offering presents an opportunity for individual investors to invest in a promising lithium exploration and development company. The sale of Units and FT Units at a discounted price, coupled with the inclusion of purchase warrants, allows investors to potentially acquire more shares than they would otherwise be able to afford. Additionally, the successful completion of the Offering will contribute to the global supply of lithium, a critical component in the production of batteries for electric vehicles, and support the global transition towards renewable energy.
The Offering represents a significant step forward for LithiumBank and underscores its commitment to advancing its projects and contributing to the growing demand for lithium in a sustainable and responsible manner.
