SPOD Lithium Announces Closing of First Tranche of Private Placement

Executive Summary

• SPOD Lithium Corp. completed the first tranche of its previously announced non‑brokered private placement, raising $130,000 in gross proceeds.
• The offering consisted of 6,500,000 units sold at $0.02 per unit, each unit containing one common share and one warrant to purchase an additional share at $0.05 after 24 months.
• Net proceeds are earmarked for general working capital purposes.

Key Details

• Gross proceeds: $130,000 (cumulative) from the first tranche.
• Units sold: 6,500,000 units @ $0.02 per unit.
• Unit composition: 1 common share + 1 common‑share purchase warrant.
• Warrant terms: Right to acquire one additional common share at $0.05 per share, exercisable 24 months after the closing date.
• Use of proceeds: General working capital, subject to CSE and securities law compliance.
• Statutory hold period: All securities (including any shares issuable upon warrant exercise) subject to a four‑month‑plus‑one‑day hold period and CSE resale restriction legend.
• U.S. securities law disclaimer: Securities not registered under the U.S. Securities Act; sales to U.S. persons prohibited absent exemption or registration.
• Insider participation: No insiders participated in the offering.
• Finders’ fees: None paid in connection with the offering.

Notable Quotes

(No executive quotes were included in the release.)