SPOD Lithium Announces Closing of Second Tranche of Private Placement

Executive Summary

• SPOD Lithium Corp. completed the second tranche of its non‑brokered private placement, raising gross proceeds of $88,000.
• The offering consisted of 4,400,000 units at $0.02 per unit; each unit includes one common share and one warrant to purchase an additional share at $0.05 after 24 months.
• Net proceeds will be used for general working capital.

Key Details

• Gross proceeds: $88,000 from sale of 4,400,000 units ($0.02 per unit).
• Unit composition: 1 common share + 1 warrant (exercise price $0.05, exercisable after 24 months).
• Commission paid: $3,200 cash to Raymond James Ltd.
• Finder’s warrants: 160,000 warrants issued to Raymond James‑introduced purchasers (8% of gross proceeds), exercisable at $0.05 for two years.
• Use of proceeds: General working capital purposes.
• Statutory hold period: All securities subject to a four‑month‑plus‑one‑day hold period and CSE resale restriction.
• U.S. securities law disclaimer: Securities not registered under the U.S. Securities Act; cannot be offered or sold in the United States absent exemption.
• Insider participation: No insiders participated in the offering.

Notable Quotes

(No direct quotes were provided in the release.)