Century Lithium closes $4.73-million financing

Executive Summary

• Century Lithium Corp. completed the second and final tranche of its listed issuer financing exemption (LIFE) offering, issuing 6,226,000 units for $1.87 M in gross proceeds.
• Combined with the first tranche, total issuance reached 15,785,833 units for aggregate gross proceeds of $4.74 M.
• The closing involved cash fees of $118,650 and the issuance of compensation warrants to brokers; related‑party directors purchased 168,333 units in the initial tranche.

Key Details

• Offering Structure: Up to 16,666,667 units at C$0.30 per unit; each unit = 1 common share + 1 common share purchase warrant (exercise price C$0.45, exercisable for 60 months).
• Final Tranche Issuance: 6,226,000 units issued, generating $1,867,800 gross proceeds.
• Cumulative Issuance: Total of 15,785,833 units issued across both tranches, totaling $4,735,749.90 in gross proceeds.
• Cash Fees Paid: $118,650 paid to brokers at closing.
• Compensation Warrants: 395,500 non‑transferable warrants issued to third‑party brokers (exercise price C$0.30, 36‑month term). Total finder’s fees = $252,556.50 cash + 841,855 compensation warrants.
• Related Party Participation: Directors purchased 168,333 units in the initial closing; transaction qualifies as a related‑party transaction under MI 61‑101 but is exempt from valuation and minority approval requirements because share value and consideration are each <25 % of market cap.
• Regulatory Notes: No material change report filed >21 days before initial closing due to late settlement of related‑party participation.

Notable Quotes

(No executive quotes were provided in the release.)