Northwire Canada EditionTuesday, November 10, 2026
Northwire
⌕
Gold 4,064.30 −1.2% Silver 52.02 −1.3% Copper 6.26 −1.3% Oil 84.43 −2.8% Palladium 1,033.00 +1.1% GAL 0.380 +0.0% VCG 1.02 +0.0% LVX 0.340 +0.0% RAMP 0.270 +0.0% QTWO 1.61 +0.0% SUM 1.32 +0.0% SGML 8.35 +0.0% BOGO 0.790 +0.0% SGC 0.095 +0.0% MANU 0.150 +0.0% GMA 0.200 +0.0% ONAU 0.475 +0.0% TGOL 0.130 +0.0% MD 0.320 +0.0% SAG 0.660 +0.0% SNAG 0.195 +0.0% Gold 4,064.30 −1.2% Silver 52.02 −1.3% Copper 6.26 −1.3% Oil 84.43 −2.8% Palladium 1,033.00 +1.1% GAL 0.380 +0.0% VCG 1.02 +0.0% LVX 0.340 +0.0% RAMP 0.270 +0.0% QTWO 1.61 +0.0% SUM 1.32 +0.0% SGML 8.35 +0.0% BOGO 0.790 +0.0% SGC 0.095 +0.0% MANU 0.150 +0.0% GMA 0.200 +0.0% ONAU 0.475 +0.0% TGOL 0.130 +0.0% MD 0.320 +0.0% SAG 0.660 +0.0% SNAG 0.195 +0.0%
Financings

LITHIUM AFRICA CORP. ANNOUNCES UPSIZE IN PRIVATE PLACEMENT TO C$8.5M WITH LEAD ORDER FROM PURPOSE GLOBAL RESOURCE FUND

LAF · Price

Executive Summary

  • Lithium Africa Corp. upsized its previously announced best‑efforts private placement from C$5.0 M to C$8.5 M due to strong investor demand.
  • The offering will sell 4,250,000 units at C$2.00 per unit (each unit = 1 common share + ½ warrant) with an optional additional 750,000 units for up to C$1.5 M.
  • Net proceeds are earmarked as partial consideration for the acquisition of the Springbok Project and for working‑capital/general corporate purposes.

Key Details

  • Offering Size: Increased to aggregate gross proceeds of C$8.5 million (up from C$5.0 M).
  • Lead Order: Approximately C$3.3 million committed by Purpose Global Resource Fund.
  • Units Offered: 4,250,000 units at C$2.00 per unit; each unit consists of one common share and half a common‑share purchase warrant.
  • Warrant Terms: Each warrant allows purchase of one Common Share at an exercise price of C$2.80, exercisable for three years after closing.
  • Agent Option: ATB Cormark Capital Markets may sell up to an additional 750,000 units at the same price, adding C$1.5 M gross proceeds.
  • Commission & Broker Warrants: Agent receives a 7.0% cash commission on gross proceeds plus broker warrants equal to 7.0% of units sold; each broker warrant permits purchase of one Common Share at the offering price for two years post‑closing.
  • Use of Proceeds:
  • Partial consideration for acquisition of the Springbok Project (refer to Feb 25 2026 release).
  • Working capital and general corporate purposes.
  • Closing Date: Expected on or about March 18 2026, subject to regulatory approvals and TSX Venture Exchange acceptance.
  • Regulatory Notes: Offering made under private‑placement exemptions; securities not registered in the United States and cannot be offered there.

Notable Quotes

  • “The strong investor demand underscores confidence in our growth strategy and provides essential capital to advance the Springbok acquisition and broader corporate objectives.” – Tyron Breytenbach, CEO & Director, Lithium Africa Corp.
Read the original news release →

More from Lithium Africa Corp.