Frontier Lithium Announces $500,000 Flow-Through Financing
Sudbury, Ontario, August 7, 2018 – Frontier Lithium Inc. (TSXV: FL) (“Frontier” or “the Company”) has proposed a non-brokered flow-through private placement offering for a total of 1,136,364 units (“Units”) of the Company priced at $0.44 per Unit, for total gross proceeds of $500,000.
The Common Shares to be issued under a unit offering of 1,136,364 units (“Units”) at a subscription price of $0.44 per Unit. Each Unit shall consist of one (1) Common Share of the Company and one-half ½ share purchase warrant (the “Warrant”). Each full Warrant shall entitle the holder thereof to purchase one additional common share of Frontier Lithium at an exercise price of $0.55 for a 24-month period from the closing (the “Offering”).
All of the Shares and Warrants issued pursuant to the flow-through private placement are subject to a minimum 4-month hold period. Proceeds from the financing will be used to advance exploration of Frontier’s 100% owned and optioned PAK Lithium Project located in northwestern Ontario.