Eureka Lithium Corp. Files Amended LIFE Offering Document

Executive Summary

• Eureka Lithium Corp. has filed an amended offering document for a private placement financing, adjusting the warrant exercise price from $0.45 to $0.50.
• The company is conducting a LIFE Offering and two concurrent private placements with a total potential gross proceeds of up to $6,000,000.
• The financing involves the issuance of units comprising common shares and warrants, with specific hold periods and regulatory exemptions applied.

Key Details

• Amendment Reason: The exercise price for warrants in the LIFE Offering and concurrent private placements was adjusted from $0.45 to $0.50.
• LIFE Offering Structure:
  • Type: Non-brokered private placement under the Listed Issuer Financing Exemption (LIFE Exemption).
  • Units: Up to 4,761,904 units.
  • Price: $0.42 per unit.
  • Gross Proceeds: Up to $2,000,000.
  • Composition: Each unit consists of one common share and one common share purchase warrant.
  • Warrant Terms: Exercisable for one common share at $0.50 per share for a period of 24 months from closing.
  • Resale Restrictions: No resale restrictions for LIFE Offering securities under Canadian law.
• Concurrent Private Placement 1:
  • Units: Up to 4,761,904 units.
  • Price: $0.42 per unit.
  • Gross Proceeds: Up to $2,000,000.
  • Composition: Each unit consists of one common share and one common share purchase warrant.
  • Warrant Terms: Exercisable for one common share at $0.50 per share for a period of 24 months from closing.
  • Hold Period: Statutory hold period of four months and one day from issuance.
• Concurrent Private Placement 2 (Flow-Through):
  • Units: Up to 4,166,666 units ("FT Units").
  • Price: $0.48 per unit.
  • Gross Proceeds: Up to $2,000,000.
  • Composition: Each unit consists of one flow-through common share and one non-flow-through common share purchase warrant.
  • Warrant Terms: Exercisable for one non-flow-through common share at $0.60 per share for a period of 24 months from closing.
  • Hold Period: Statutory hold period of four months and one day from issuance.
• Regulatory & Legal:
  • Securities are not registered under the US Securities Act of 1933.
  • LIFE Offering is restricted to purchasers resident in Canada, except Quebec.
  • Concurrent offerings subject to statutory hold periods per Canadian securities laws.