NOA Lithium arranges $4-million private placement

Executive Summary

• NOA Lithium Brines Inc. has entered into a bought deal private placement agreement with Red Cloud Securities Inc. to raise gross proceeds of approximately C$4.0 million.
• The company will issue 15,384,616 units at a price of C$0.26 per unit, with each unit consisting of one common share and one common share purchase warrant.
• Proceeds are designated for the advancement of the Rio Grande lithium project in Argentina, as well as for general corporate purposes and working capital.

Key Details

• Transaction Structure: Bought deal private placement via Red Cloud Securities Inc. as sole underwriter and bookrunner.
• Units Issued: 15,384,616 units.
• Offering Price: C$0.26 per unit.
• Gross Proceeds: Approximately C$4.0 million.
• 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 C$0.40. Warrants are exercisable for 36 months following the closing date.
• Overallotment Option: Red Cloud has an option to purchase up to an additional 3,846,614 units (approx. 25% over-allotment) at the same price, potentially raising an additional C$1.0 million in gross proceeds. 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.
• Regulatory Exemptions: Offered under the listed issuer financing exemption (NI 45-106) in Canada and private placement exemptions in the US and other jurisdictions.
• Tradeability: Securities issued to Canadian purchasers are expected to be immediately freely tradeable. Securities issued to non-Canadian purchasers are not subject to a four-month hold period in Canada.
• Closing Date: Scheduled on or about November 20, 2025, subject to regulatory approvals including the TSX Venture Exchange.

Notable Quotes

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