Consolidated Lithium Metals Announces Update to Private Placement Financing
Executive Summary
- Consolidated Lithium Metals Inc. amends its previously announced non‑brokered private placement, increasing the total potential gross proceeds to up to $18.07 million.
- The amended offering consists of three securities classes: LIFE Units ($0.08 each, up to $2.5 M), Critical FT Shares ($0.096 each, up to $6 M), and Charity FT Units ($0.12 each, up to $9.57 M).
- Proceeds will be used for exploration and critical‑mineral mining expenditures on the Kwyjibo Rare Earth Project and lithium properties, as well as working capital and general corporate purposes.
Key Details
- Offering Structure
- LIFE Units: up to 31,250,000 units at $0.08 per unit → max $2,500,000 gross proceeds. Each unit = 1 common share + ½ warrant.
- Critical FT Shares: up to 62,500,000 shares at $0.096 per share → max $6,000,000 gross proceeds. Each share is a flow‑through share for tax purposes.
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Charity FT Units: up to 79,750,000 units at $0.12 per unit → max $9,570,000 gross proceeds. Each unit = 1 common share + ½ warrant; both qualify as flow‑through shares.
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Warrant Terms
- Exercise price: $0.12 per common share.
- exercisable for 36 months from the closing date.
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Warrants issued under the Listed Issuer Financing Exemption (LIFE & Charity units) are not exercisable until 60 days after the closing.
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Closing Timeline
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Expected closing on or about March 17, 2026, subject to change at the Company’s discretion.
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Regulatory/Exemptions
- Units offered under the Listed Issuer Financing Exemption (NI 45‑106) and other prospectus exemptions in Canada.
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Total units issued under this exemption will not exceed 50 % of outstanding listed equity securities over a rolling 12‑month period.
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Use of Proceeds
- Primarily for exploration expenses and critical mineral mining expenditures on the Kwyjibo Rare Earth Project and lithium properties in Quebec.
- Portion from Critical FT Shares and Charity FT Units will be used to incur eligible “Canadian exploration expenses” that qualify as flow‑through critical‑mineral mining expenditures, to be renounced to purchasers by December 31, 2026.
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If the Company cannot fully renounce qualifying expenditures, it will indemnify affected purchasers for any additional taxes.
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U.S. Offering Disclaimer
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Securities are not registered in the United States and may not be offered or sold to U.S. persons absent a registration exemption.
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Advisors & Contacts
- Legal counsel: Wildeboer Dellelce LLP.
- Placement agents: Integrity Capital Group Inc., BT Global Growth Inc., Independent Trading Group (ITG), Inc., Kernaghan & Partners Ltd.
- Primary contact: Rene Bharti, Vice President Corp. Dev. ([email protected]).
Notable Quotes
No executive quotes were included in the release.