LITHIUM CHILE INC. ("LITH")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: July 7, 2020
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on May 11, 2020:
Number of Shares: 15,000,000 shares
Purchase Price: $0.10 per share
Warrants: 7,500,000 share purchase warrants to purchase 7,500,000 shares
Warrant Exercise Price: $0.25 for a one year period
Number of Placees: 72 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Aggregate Pro Group Involvement P 650,000
[5 placees]
Finder's Fee: Leede Jones Gable Inc. - $32,000 in cash payments and 320,000 broker warrants
EMD Financial Inc. - $9,800 in cash payments and 98,000 broker warrants
PI Financial Corp. - $48,000 in cash payments and 480,000 broker warrants
Echelon Wealth Partners Inc. - $1,600 in cash payments and 16,000 broker warrants
Ocean Wall Ltd. - $11,200 in cash payments and 112,000 broker warrants
Each broker warrant will be exercisable at $0.10 for one common share of the Company for a 12 month period from the date of issuance.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company issued a news release on June 3, 2020 and June 11, 2020 announcing the closing of the first and second tranche, respectively, of the private placement and setting out the expiry dates of the hold periods. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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