First Lithium Minerals closes $75,000 financing

Executive Summary

• First Lithium Minerals Corp. completed a flow‑through financing raising gross proceeds of $75,000.
• Issued 937,500 flow‑through shares at $0.08 per share; insiders purchased 500,000 shares.
• Paid finder’s fees of $2,450 in cash and issued 30,625 finders’ warrants (exercise price $0.08, 18‑month term).

Key Details

• Gross proceeds: $75,000 from the issuance of 937,500 flow‑through shares at $0.08 each.
• Finder’s fees: $2,450 cash plus 30,625 finders’ warrants; each warrant exercisable into one common share at $0.08 per share for a period of 18 months.
• Hold period: All securities issued are subject to a hold‑period expiring four months and one day after the closing date.
• Insider participation: Insiders purchased 500,000 flow‑through shares, constituting a related‑party transaction under Canadian Securities Exchange rules and MI 61‑101.
• Regulatory exemptions: The company relied on exemptions from formal valuation and minority shareholder approval per sections 5.5(a) & (b) and 5.7(1)(a) of MI 61‑101, as the transaction does not exceed 25 % of market capitalization and no securities are listed on a stock exchange.

Notable Quotes

No executive quotes were provided in the release.