Arctic Fox arranges $3-million private placement

Executive Summary

• Arctic Fox Lithium Corp. announced a non-brokered private placement of up to 12.5 million units at $0.24 per unit, targeting up to $3 million in gross proceeds.
• Each unit includes one common share and one common share purchase warrant exercisable at $0.315 per share for a 24-month period.
• Net proceeds will fund general working capital, offering costs, and exploration expenditures at the Shipshaw property and other mineral assets.

Key Details

• Unit Structure: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Exercisable at $0.315 per share; valid for 24 months from the date of issuance.
• Pricing & Proceeds: Offered at $0.24 per unit for gross proceeds of up to $3,000,000.
• Jurisdictions & Exemptions: Offered in all Canadian provinces (prospectus exemptions), in the United States (exempt from registration under the 1933 Securities Act), and in other jurisdictions on a private placement basis.
• Hold Periods: 4 months and 1 day for Canadian purchasers; no hold period expected for non-Canadian purchasers under OSC Rule 72-503.
• Use of Proceeds: General working and administrative capital, costs related to the offering, and exploration expenditures for the Shipshaw property and other mineral properties.
• Finders' Fees: May be payable in connection with the offering.
• Compliance: Securities issued to Canadian purchasers subject to applicable Canadian securities law exemptions; non-Canadian purchasers rely on OSC Rule 72-503.