Standard Lithium has completed the private placement of 9,894,785 common shares at a price of USD0.75 per share for gross proceeds of USD7,421,089.
Interest in the placement far exceeded the expectations of the Company, and the additional amount raised provides the Company with the capital needed to advance its current projects and pursue strategic acquisitions in the lithium sector.
“We are extremely pleased with the interest received in this placement, and completion represents a significant milestone for the Company,” commented Anthony Alvaro, a director of the Company. “The strong demand speaks to the growing confidence in our team, projects and future vision for the Company.”
In connection with completion of the private placement the Company paid cash commissions of USD74,840 and issued 590,687 common shares to certain parties who introduced subscribers to the Company. All securities issued in the private placement are subject to a four-month-and-one-day statutory hold period.
