Lithium Africa Announces C$5 Million Private Placement of Units

Executive Summary

• Lithium Africa Corp. announced a private placement of 2,500,000 units at C$2.00 per unit, targeting gross proceeds of C$5 million.
• Each unit consists of one common share and half of a common‑share purchase warrant (exercise price C$2.80, three‑year term).
• The net proceeds will be used partially to fund the acquisition of the Springbok Project and for working capital/general corporate purposes; closing is expected around March 18, 2026.

Key Details

• Units offered: 2,500,000 (plus an optional up‑sell of 375,000 units).
• Issue price: C$2.00 per unit → gross proceeds: C$5 million (up to an additional C$750,000 if the option is exercised).
• Unit composition:
• 1 common share
• ½ of a common‑share purchase warrant (each whole warrant gives the holder the right to buy one common share at C$2.80).
• Warrant terms: Exercise price C$2.80 per share; exercisable for three years after closing.
• Agent: ATB Cormark Capital Markets, acting on a “best‑efforts” basis.
• Use of proceeds:
• Partial consideration for the acquisition of the Springbok Project (see Feb 25, 2026 release).
• Working capital and general corporate purposes.
• Closing date: Expected on or about March 18, 2026, subject to regulatory approvals (including TSX Venture Exchange acceptance).
• Optional over‑allotment: Agent may sell up to an additional 375,000 units at the same price, raising up to C$750,000, exercisable up to 48 hours before closing.
• Regulatory notes: Offering made under Canadian private placement exemptions; securities not registered in the United States and cannot be offered or sold there.

Notable Quotes

(No direct quotes were provided in the release.)