NOA Lithium receives $4.35M from warrant exercise

Executive Summary

• NOA Lithium Brines Inc. announced the exercise of 21,778,014 common share purchase warrants, generating gross proceeds of $4,355,603.
• The proceeds are designated for advancing the company's projects, specifically moving the Rio Grande project into prefeasibility, and for general corporate working capital.
• This transaction is part of a larger trend of warrant exercises over the past 60 days, with total cash raised reaching approximately $5,886,003, nearly half of which came from management and founding shareholders.

Key Details

• Warrant Exercise Volume: 21,778,014 warrants exercised.
• Exercise Price: $0.20 per common share.
• Gross Proceeds: $4,355,603 in cash.
• Use of Proceeds: Advancing company projects (specifically Rio Grande into prefeasibility) and general corporate working capital.
• Recent Activity Context: Over the past 60 days, a total of 29,430,014 warrants exercisable at $0.20 have been exercised.
• Total Recent Cash Raised: Approximately $5,886,003 from warrant exercises in the last 60 days.
• Management Participation: Approximately 50% ($2,912,400) of the warrants exercised in the past 60 days were exercised by company management.
• Strategic Impact: CEO Gabriel Rubacha stated the exercises reflect strong internal alignment and provide cost-effective capital to advance the Rio Grande project within the planned timeframe.

Notable Quotes

• "These warrant exercises reflect strong internal alignment and continued support for NOA's strategy, and it reflects a strong commitment from the founding shareholders and management. These proceeds strengthen our treasury and provide cost-effective capital to advance Rio Grande into prefeasibility within our planned time frame." — Gabriel Rubacha, CEO and Director