Consolidated Lithium Metals plans $17.07 million private placement

Consolidated Lithium Metals Inc. (TSXV: CLM) announced plans to complete a non-brokered private placement offering for up to $17.07 million in gross proceeds through three types of securities.

The offering includes up to 31.25 million units at $0.08 each for up to $2.5 million, up to 50 million flow-through shares at $0.10 each for up to $5 million, and up to 79.75 million flow-through units at $0.12 each for up to $9.57 million. Each unit consists of one common share and one-half of one warrant, with warrants exercisable at $0.12 for 36 months from closing.

The company plans to use proceeds for exploration expenses and critical mineral mining expenditures on its Kwyjibo Rare Earth Project and lithium properties, along with working capital and general corporate purposes. Flow-through share proceeds will fund eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures on projects in Quebec.

Securities will be offered under Canada's Listed Issuer Financing Exemption and other prospectus exemptions. The company may also offer securities in the United States under available exemptions from registration requirements.

Finder's fees may reach 8% of gross proceeds raised, with finder warrants equal to up to 8% of securities sold. The offering requires regulatory approvals, including from the TSX Venture Exchange.

The company must incur qualifying expenditures by December 31, 2027, and renounce them in favor of flow-through share purchasers effective December 31, 2026. If unable to meet these requirements, the company will indemnify purchasers for additional taxes.

Consolidated Lithium Metals is a Canadian junior mining exploration company focused on critical mineral projects. The company trades on the TSX Venture Exchange, Frankfurt Stock Exchange, and OTCQB Venture Market.

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