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Discovery Lithium Announces Non-Brokered Private Placement Financing

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Discovery Lithium (CSE:DCLI)(OTCQB:DCLIF) announces a non-brokered private placement offering of up to 10,000,000 units at $0.055 per unit, aiming to raise gross proceeds of up to $550,000. Each unit includes one common share and one warrant, exercisable at $0.10 per share within 24 months. The company will cancel its previously announced August 28, 2024 offering. Proceeds will fund working capital and property exploration. The offering requires regulatory approvals and includes a four-month statutory hold period. Finder's fees may apply.

Discovery Lithium (CSE:DCLI)(OTCQB:DCLIF) annuncia un'offerta di collocamento privato non intermediatore fino a 10.000.000 di unità a $0.055 per unità, con l'obiettivo di raccogliere proventi lordi fino a $550.000. Ogni unità comprende un'azione ordinaria e un warrant, esercitabile a $0.10 per azione entro 24 mesi. La società annullerà l'offerta precedentemente annunciata del 28 agosto 2024. I proventi saranno destinati a capitale circolante e esplorazione di proprietà. L'offerta richiede approvazioni normative e include un periodo di blocco statutario di quattro mesi. Potrebbero applicarsi commissioni per i facilitatori.

Discovery Lithium (CSE:DCLI)(OTCQB:DCLIF) anuncia una oferta de colocación privada no intermediada de hasta 10,000,000 de unidades a $0.055 por unidad, con el objetivo de recaudar ingresos brutos de hasta $550,000. Cada unidad incluye una acción ordinaria y un warrant, que se puede ejercer a $0.10 por acción dentro de 24 meses. La empresa cancelará su oferta previamente anunciada del 28 de agosto de 2024. Los ingresos se destinarán al capital de trabajo y a la exploración de propiedades. La oferta requiere aprobaciones regulatorias e incluye un período de retención legal de cuatro meses. Podrían aplicarse comisiones para los intermediarios.

디스커버리 리튬( CSE:DCLI)(OTCQB:DCLIF)이 비거래소 사모 모집을 통해 최대 10,000,000개 유닛을 유닛당 $0.055에 제공하여 최대 $550,000의 매출을 올릴 계획이라고 발표했습니다. 각 유닛은 하나의 보통주와 하나의 워런트를 포함하며, 24개월 이내에 주당 $0.10에 행사가 가능합니다. 회사는 2024년 8월 28일에 발표된 기존의 자금을 취소할 예정입니다. 수익금은 운영 자본 및 부동산 탐사에 사용될 예정입니다. 이 거래는 규제 기관의 승인을 요구하며, 4개월의 법정 보유 기간이 포함됩니다. 중개 수수료가 적용될 수 있습니다.

Discovery Lithium (CSE:DCLI)(OTCQB:DCLIF) annonce une émission privée sans courtier pouvant aller jusqu'à 10.000.000 d'unités au prix de 0,055 $ par unité, visant à lever des recettes brutes allant jusqu'à 550.000 $. Chaque unité comprend une action ordinaire et un bon de souscription, exerçable à 0,10 $ par action dans les 24 mois. La société annulera son offre initialement prévue pour le 28 août 2024. Les recettes seront utilisées pour le fonds de roulement et l'exploration de propriétés. L'offre nécessite des approbations réglementaires et inclut une période de blocage légale de quatre mois. Des commissions de recherche peuvent s'appliquer.

Discovery Lithium (CSE:DCLI)(OTCQB:DCLIF) kündigt eine nicht vermittelte Privatplatzierung von bis zu 10.000.000 Einheiten zu einem Preis von $0.055 pro Einheit an. Ziel ist es, brutto Einnahmen von bis zu $550.000 zu erzielen. Jede Einheit beinhaltet eine Stammaktie und ein Warrant, das innerhalb von 24 Monaten zu einem Preis von $0.10 pro Aktie ausgeübt werden kann. Das Unternehmen wird sein zuvor angekündigtes Angebot vom 28. August 2024 stornieren. Die Einnahmen werden für Betriebskapital und Grundstückserkundung verwendet. Das Angebot erfordert regulatorische Genehmigungen und umfasst eine gesetzliche Haltedauer von vier Monaten. Vermittlungsgebühren können anfallen.

Positive
  • Secured potential funding of $550,000 for working capital and exploration
  • Warrant exercise price of $0.10 represents 82% premium to unit price
Negative
  • Significant shareholder dilution through issuance of 10 million new units
  • Low unit pricing at $0.055 indicates challenging market conditions
  • Cancellation of previous offering suggests potential financing difficulties

VANCOUVER, BC / ACCESSWIRE / October 23, 2024 / Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF)(FRA:Q3Q0) (WKN: A3EFKA) (the "Company," or "Discovery Lithium"), a Canadian exploration company focused on advancing domestic energy freedom through regional lithium discovery, is pleased to announce that it intends to complete a non-brokered private placement of up to 10,000,000 units of the Company ("Units") at a price of $0.055 per Unit for gross proceeds of up to $550,000 (the "Offering"). Each Unit will be comprised of one common share of the Company and one share purchase warrant, with each warrant exercisable to acquire one common share of the Company at a price of $0.10 per share for a period of 24 months from the date of issuance. In connection with the launch of the Offering, the Company advises that it will no longer proceed with the offering contemplated by the Company's announcement of August 28, 2024.

The gross proceeds from the Offering are expected to be used for general working capital and property exploration. The closing of the Offering is subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals. The Company may pay finder's fees in connection with the Offering. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day pursuant to applicable securities law.

For more information please visit: www.discoverylithium.com.

About Discovery Lithium (CSE: DCLI) (OTCQB: DCLIF) (FRA: Q3Q0) (WKN: A3EFKA)

Discovery Lithium Inc. is a Canadian exploration company focused on advancing mineral resource projects in North America. The Company holds a 100% interest in 1,675 mineral claims in Serindac Lake and 2,113 mineral claims in Vaubert Lake for a combined total of approximately 164,283 hectares (~405,952 acres) located in the Nunavik region of Northern Quebec, and with a further total of 303 mineral claims comprising approximately 16,392 hectares (~40,505.5 acres) identified as the Route De Nord, Lac Belanger, Lac Ferland and Lac Roberston properties located across the northern and eastern regions of Québec including the prolific lithium district of the James Bay region. The Company has entered into an agreement to acquire a 100% interest in the Eagle Lake claims and the Whitefish Lake claims, respectively, comprised of 2,923 mineral claims covering approximately 61,093 hectares (~150,964 acres) in Northwestern Ontario. Additionally, the Company is actively advancing its ESN Project for gold exploration in Nevada and evaluating the Koster Dam Project in Central British Columbia through a joint venture with Cariboo Rose Resources. Find out more at: www.discoverylithium.com and follow us on X (formerly twitter), Facebook, and LinkedIn.

On behalf of the Board of Directors,

Mike Hodge
Chief Executive Officer

The Company would like to welcome investors to visit our website and join our mailing list at www.discoverylithium.com/news-alerts/. By subscribing you will stay up to date with the latest news releases and advancements within our company.

For further information, please contact:

Discovery Lithium Inc.
1450 - 789 West Pender Street,
Vancouver, BC Canada V6C 1H2
Telephone: +1 (778) 868-2226
Email: info@discoverylithium.com
Web: www.discoverylithium.com

Caution Regarding Forward-Looking Information

Certain statements contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", "potential", "indicative" and similar expressions. Forward-looking information in this news release includes, but is not limited to, the Offering, including the timing, terms and anticipated use of proceeds from the Offering, the timely receipt of all necessary approvals for the Offering, and other statements regarding the Company's future business plans and objectives. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of risks and uncertainties inherent in the exploration and development of mineral properties, fluctuations in commodity prices, counterparty risk, market conditions, regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Discovery Lithium Inc.



View the original press release on accesswire.com

FAQ

What is the price per unit in Discovery Lithium's (DCLIF) October 2023 private placement?

Discovery Lithium's private placement offers units at $0.055 per unit.

How much funding is Discovery Lithium (DCLIF) seeking to raise in its October 2023 offering?

Discovery Lithium aims to raise gross proceeds of up to $550,000 through the private placement.

What is the warrant exercise price and duration for Discovery Lithium's (DCLIF) October 2023 offering?

The warrants are exercisable at $0.10 per share for a period of 24 months from issuance.

DISCOVERY LITHIUM INC

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