NOA Lithium increases bought deal to $5.5-million

Executive Summary

• NOA Lithium Brines Inc. has upsized its previously announced bought deal private placement from gross proceeds of $4 million to $5.5 million due to strong investor demand.
• The offering consists of 21,153,847 units priced at $0.26 per unit, with Red Cloud Securities Inc. acting as sole underwriter and bookrunner.
• Net proceeds will be used to advance the Rio Grande project in Argentina, as well as for general corporate purposes and working capital.

Key Details

• Gross Proceeds: Increased to $5.5 million (up from $4 million).
• Unit Price: $0.26 per unit.
• Units Issued: 21,153,847 units.
• Underwriter: Red Cloud Securities Inc. (Sole underwriter and bookrunner).
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.40. Warrants are exercisable for 36 months after the closing date.
• Overallotment Option: The company granted Red Cloud an option to purchase up to an additional 3,846,154 units at $0.26 per unit for additional gross proceeds of up to approximately $1 million. This option is exercisable up to 48 hours prior to the closing date.
• Use of Proceeds: Advancement of the Rio Grande project in the Salta province of Argentina, general corporate purposes, and working capital.
• Closing Date: Scheduled on or about December 1, 2025, subject to regulatory approvals including the TSX Venture Exchange.
• Regulatory Basis: Offered via private placement under National Instrument 45-106 (Listed Issuer Financing Exemption) in Canada and exemptions under the U.S. Securities Act of 1933. Securities are expected to be immediately freely tradeable in Canada.

Notable Quotes

• No direct quotes from management were included in the provided text.