Consolidated Lithium Metals Announces Closing Of Life Offering

Executive Summary

• Consolidated Lithium Metals Inc. closed its previously announced non‑brokered private placement of 57,361,667 units at $0.06 per unit, generating approximately $3.44 million in gross proceeds.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.10; the warrants are exercisable from Jan‑14‑2026 to Nov‑14‑2028.
• Net proceeds will be used to fund exploration activities on the Company’s lithium projects in Québec, as well as for working capital and general corporate purposes.

Key Details

• Units Issued: 57,361,667 units (each = 1 common share + 1 warrant).
• Pricing: $0.06 per unit; aggregate gross proceeds ≈ $3,441,700.
• Warrant Terms: Exercise price $0.10 per share; exercisable Jan‑14‑2026 through Nov‑14‑2028.
• Finder Fees & Warrants: Paid $250,000 to Integrity Capital Group and issued 4,000,000 finder warrants (same exercise terms as unit warrants).
• Related Party Participation: Insiders subscribed for ≈ $150,000 worth of units; transaction relied on exemptions under MI 61‑101.
• Use of Proceeds: Advance exploration of lithium properties in Québec; working capital and general corporate purposes (as detailed in the offering document).
• Regulatory Conditions: Closing subject to final acceptance by the TSX Venture Exchange; certain securities exempt from hold periods, others subject to a four‑month statutory hold.
• Legal Counsel: Wildeboer Dellelce LLP acted as legal counsel for the Offering.

Notable Quotes

(No direct quotes were provided in the release.)