Spod Lithium Corp. has closed its previously announced non-brokered private placement, raising gross proceeds of up to $1,443,750 through the issuance of 10,694,444 units at a price of 13.5 cents per unit, with each unit consisting of one flow-through Class A common share and one-half of one transferable Class A common share purchase warrant at 12 cents for 24 months from the date of issuance. The securities issued are subject to a four-month hold period according to applicable securities laws of Canada, which will expire April 28, 2024. The company did not pay any finders’ fees in connection with the offering. Proceeds from the financing will be used to incur eligible Canadian exploration expenses that are flow-through mining expenditures (as such term is defined in the Income Tax Act (Canada)).
About Spod Lithium Corp.
Spod Lithium is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base metals and precious metals. The company’s flagship assets are its lithium properties located in the James Bay region of Quebec, and the Nipigon and Niemi region of Ontario, Canada.
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