Noram Lithium Announces Closing of Fully Allocated Non-Brokered Financing

Executive Summary

• Noram Lithium Corp. closed a non‑brokered private placement raising $1,067,500 from the issuance of 10,675,000 units.
• Each unit includes one common share and one warrant to purchase an additional share at $0.15 for 36 months; finder's warrants were also issued.
• Net proceeds are earmarked for general working capital, corporate overhead, and exploration/development of the Zeus Lithium Project in Nevada.

Key Details

• Gross proceeds: $1,067,500
• Units sold: 10,675,000 (each = 1 common share + 1 warrant)
• Warrant terms: Purchase price $0.15 per share; exercisable for 36 months from issuance.
• Insider participation: Insiders subscribed for $175,000, receiving 1,750,000 units (related‑party transaction exempt from formal valuation/approval under TSXV Policy 5.9 and MI 61‑101).
• Finder’s fees & warrants: Cash finder’s fees paid = $35,550; finder's warrants issued = 355,550 (same exercise price and term as unit warrants).
• Use of proceeds: General working capital, corporate overhead, and exploration/development activities for the Zeus Lithium Project.
• Regulatory status: Offering remains subject to final acceptance by the TSX Venture Exchange; no new control persons created.

Notable Quotes

(No direct quotes were provided in the release.)