Edison Lithium closes $557,875 private placement

Executive Summary

• Edison Lithium Corp. closed a non-brokered private placement, issuing 11,157,500 units at $0.05 per unit for gross proceeds of $557,875.
• The company granted 1.5 million stock options to directors, officers, and consultants, exercisable at $0.10 per share.
• Proceeds are designated for exploration activities and general working capital.

Key Details

• Financing Structure: Non-brokered private placement.
• Units Issued: 11,157,500 units.
• Price Per Unit: $0.05.
• Gross Proceeds: $557,875.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant allows the holder to acquire one additional share at an exercise price of $0.08 per share for a period of two years from issuance.
• Use of Proceeds: Financing exploration activities on company projects and general working capital purposes.
• Insider Participation: Directors and officers acquired 237,500 units for aggregate proceeds of $11,875. This is a related-party transaction under Multilateral Instrument 61-101.
• Finder’s Fees: Cash fees of $32,000 paid, plus 640,000 non-transferable finder warrants issued.
• Finder Warrant Terms: Exercisable to acquire one share at $0.08 per share until Feb. 9, 2028.
• Hold Period: All securities issued are subject to a statutory hold period expiring June 10, 2026.
• Regulatory Status: Subject to final approval of the TSX Venture Exchange (TSX-V).
• Stock Option Grant: Aggregate of 1.5 million stock options granted to directors, officers, and consultants.
• Option Exercise Price: $0.10 per share.
• Option Expiration: Five years from the date of grant (Feb. 9, 2026).
• Vesting: Options vest in full on the date of grant.
• Option Hold Period: Any shares issued upon exercise are subject to a four-month hold period from the date of grant.
• Option Regulatory Status: Subject to acceptance by the TSX-V.

Notable Quotes

• None provided in the text.