United Lithium Announces Closing of $7 Million Private Placement and Appoints Lithium Industry Expert Iain Scarr to Board of Directors
VANCOUVER, British Columbia, March 06, 2023 (GLOBE NEWSWIRE) -- United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0ULA) (“ULTH” or the “Company”) has completed its previously announced non-brokered private placement (the “Offering”), and has issued 50,000,000 units (each, a “Unit”) of the Company at a price of $0.14 per Unit for gross proceeds of C$7,000,000. Each Unit is comprised of one common share (“Share”) and one Share purchase warrant entitling the holder to acquire one additional Share at a price of C$0.25 until March 6, 2025. The Company intends to use the net proceeds raised from the Offering for exploration of the Company’s properties and for general working capital.
- The Company intends to use the net proceeds raised from the Offering for exploration of the Company’s properties and for general working capital.
- All securities issued in the Offering are subject to restrictions on resale until July 7, 2023, in accordance with applicable securities laws.
- The Company also announces that Iain Scarr has joined the board of directors of the Company effective immediately.
- Mr. Scarr is replacing Mark Ireton, who has resigned as a director the Company to focus on other ventures.