Lithium Ionic Corp. Raises $18M for Brazilian Lithium Projects
Lithium Ionic Corp. (TSXV: LTH, OTC: LTHCF) has finalised a private placement financing, raising $18,263,091 through the issuance of 26,090,130 common app units. The company also plans to issue 7,790,109 common shares to RTEK International DMCC in exchange for supporting a feasibility study.
The common app units issued in the financing consist of one common share and one common share purchase warrant, exercisable at $0.90 per share for 24 months. The net proceeds will be used for the development of the company's Brazilian lithium properties and general corporate purposes.
Certain insiders of the company acquired 947,929 common app units in the second tranche, which was exempt from MI 61-101 requirements due to it being a related party transaction. Additionally, insiders acquired convertible bonds as part of the second financing tranche on September 29, 2025.
Lithium Ionic, a Canadian mining company exploring and developing lithium properties in Brazil, has successfully raised funds through a private placement common app. The company's flagship projects cover 14,668 hectares in Minas Gerais state. The recently closed common app financing and the issuance of common shares to RTEK International DMCC will support the development of these properties and general corporate purposes.
Read also:
- Revised Bonus Écologique Boosts French EV Market Share to 63.97%
- Ford Discontinues Popular Top-Seller in Staggering Shift, Labeled as a "Model T Event"
- 2025 Witnesses a 27% Surge in Worldwide Electric Vehicle Sales, Despite Opposition to Electrification Policies in the U.S.
- Summarized Report: Insights from the Realm of Transportation
