Snow Lake Energy Announces Closing of Public Offering
Snow Lake Energy (NASDAQ: LITM) has completed its previously announced public offering, raising US$6.45 million through the sale of 15,750,000 common shares at US$0.41 per share. ThinkEquity served as the sole placement agent for this offering. The company plans to use the net proceeds for working capital and general corporate purposes.
Snow Lake Energy is a Canadian clean energy exploration company with a portfolio including two uranium projects (Black Lake in Saskatchewan and Engo Valley in Namibia) and two lithium projects (Shatford Lake and Snow Lake in Manitoba). The company is currently prioritizing its uranium projects to support the clean energy transition, while limiting exploration activities on lithium projects due to depressed market conditions.
Snow Lake Energy (NASDAQ: LITM) ha completato la sua offerta pubblica annunciata in precedenza, raccogliendo 6,45 milioni di dollari statunitensi attraverso la vendita di 15.750.000 azioni ordinarie a 0,41 dollari per azione. ThinkEquity ha servito come unico agente di collocamento per questa offerta. L'azienda prevede di utilizzare i proventi netti per il capitale circolante e scopi aziendali generali.
Snow Lake Energy è una compagnia canadese di esplorazione nel settore delle energie pulite con un portafoglio che include due progetti di uranio (Black Lake in Saskatchewan e Engo Valley in Namibia) e due progetti di litio (Shatford Lake e Snow Lake nel Manitoba). Attualmente, l'azienda sta dando priorità ai suoi progetti di uranio per supportare la transizione verso un'energia pulita, limitando le attività di esplorazione sui progetti di litio a causa delle condizioni di mercato sfavorevoli.
Snow Lake Energy (NASDAQ: LITM) ha completado su oferta pública previamente anunciada, recaudando 6,45 millones de dólares estadounidenses a través de la venta de 15.750.000 acciones ordinarias a 0,41 dólares por acción. ThinkEquity actuó como único agente de colocación para esta oferta. La empresa planea utilizar los ingresos netos para capital de trabajo y propósitos corporativos generales.
Snow Lake Energy es una empresa canadiense de exploración de energía limpia con un portafolio que incluye dos proyectos de uranio (Black Lake en Saskatchewan y Engo Valley en Namibia) y dos proyectos de litio (Shatford Lake y Snow Lake en Manitoba). Actualmente, la empresa está priorizando sus proyectos de uranio para apoyar la transición hacia la energía limpia, limitando las actividades de exploración en proyectos de litio debido a las condiciones del mercado deprimidas.
스노우 레이크 에너지 (NASDAQ: LITM)는 이전에 발표한 공모를 완료하고 645만 달러를 모금했습니다. 이는 15,750,000 주식을 주당 0.41 달러에 판매한 결과입니다. ThinkEquity는 이번 공모의 유일한 배치 에이전트 역할을 했습니다. 회사는 순수익을 운영 자본과 일반 기업 목적에 사용할 계획입니다.
스노우 레이크 에너지는 두 개의 우라늄 프로젝트(사스카체완의 블랙 레이크와 나미비아의 엔고 밸리)와 두 개의 리튬 프로젝트(맨토바의 샤트포드 레이크와 스노우 레이크)를 포함하는 포트폴리오를 가진 캐나다의 청정 에너지 탐사 회사입니다. 회사는 청정 에너지 전환을 지원하기 위해 우라늄 프로젝트를 우선적으로 진행하고 있으며, 침체된 시장 상황으로 인해 리튬 프로젝트의 탐사 활동은 제한하고 있습니다.
Snow Lake Energy (NASDAQ: LITM) a terminé son offre publique annoncée précédemment, levant 6,45 millions de dollars américains grâce à la vente de 15.750.000 actions ordinaires à 0,41 dollar par action. ThinkEquity a été l'agent de placement exclusif pour cette offre. L'entreprise prévoit d'utiliser les produits nets pour le fonds de roulement et des objectifs généraux de l'entreprise.
Snow Lake Energy est une entreprise canadienne d'exploration d'énergie propre avec un portefeuille comprenant deux projets d'uranium (Black Lake en Saskatchewan et Engo Valley en Namibie) et deux projets de lithium (Shatford Lake et Snow Lake au Manitoba). Actuellement, l'entreprise priorise ses projets d'uranium pour soutenir la transition vers une énergie propre, tout en limitant les activités d'exploration sur les projets de lithium en raison de conditions de marché défavorables.
Snow Lake Energy (NASDAQ: LITM) hat sein zuvor angekündigtes öffentliches Angebot abgeschlossen und 6,45 Millionen US-Dollar durch den Verkauf von 15.750.000 Stammaktien zu 0,41 US-Dollar pro Aktie eingenommen. ThinkEquity fungierte als alleiniger Platzierungsmakler für dieses Angebot. Das Unternehmen plant, die Nettoerlöse für Betriebskapital und allgemeine Unternehmenszwecke zu verwenden.
Snow Lake Energy ist ein kanadisches Unternehmen für saubere Energieexploration mit einem Portfolio, das zwei Uranprojekte (Black Lake in Saskatchewan und Engo Valley in Namibia) und zwei Lithiumprojekte (Shatford Lake und Snow Lake in Manitoba) umfasst. Das Unternehmen priorisiert derzeit seine Uranprojekte, um den Übergang zu sauberer Energie zu unterstützen, während die Explorationsaktivitäten in den Lithiumprojekten aufgrund der schlechten Marktbedingungen eingeschränkt werden.
- Secured US$6.45 million in gross proceeds through public offering
- Diversified portfolio with four clean energy mineral projects
- Strategic focus on uranium exploration amid clean energy transition
- Significant shareholder dilution with 15,750,000 new shares issued
- exploration activities on lithium projects due to poor market conditions
- Share price of US$0.41 indicates relatively low valuation
Insights
Snow Lake Energy's
The pricing of
For retail investors: Think of this like a pizza - if you owned one slice out of eight and suddenly the pizza is cut into 16 slices instead, your one slice now represents a much smaller portion of the whole pizza, even though the pizza itself got slightly bigger from the new money coming in.
The strategic shift from lithium to uranium exploration reflects broader market dynamics, with uranium prices reaching multi-year highs while lithium prices remain depressed. The company's Black Lake project in the Athabasca Basin positions it in a premier uranium jurisdiction, though it's worth noting they're still at the early exploration stage with no proven reserves.
The timing of this capital raise aligns with increasing global interest in nuclear energy, but Snow Lake faces significant competition from established uranium players. The company's dual-commodity approach (uranium and lithium) could provide future optionality, but current focus on uranium exploration requires substantial capital for drilling programs and resource definition.
In simpler terms: The company is switching its main focus from lithium to uranium because uranium prices are hot right now, while lithium prices are not. However, they're still at the very beginning stages of finding uranium, with no guarantees of success.
Winnipeg, Manitoba--(Newsfile Corp. - December 20, 2024) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake" or the "Company"), a uranium exploration company, today announced the closing of its previously announced best efforts public offering of 15,750,000 common shares at a public offering price of US
The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
ThinkEquity acted as sole placement agent for the offering.
The offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the "SEC"). The final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Snow Lake Resources Ltd.
Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian clean energy exploration company listed on (NASDAQ: LITM), with a global portfolio of clean energy mineral projects comprised of two uranium projects and two hard rock lithium projects. The Black Lake Uranium Project is an exploration stage project located in the Athabasca Basin, Saskatchewan and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. The Shatford Lake Project is an exploration stage project located adjacent to the Tanco tantalum, cesium, and lithium mine in Southern Manitoba, and the Snow Lake Lithium™ Project is an exploration stage project located in the Snow Lake region of Northern Manitoba.
The current focus of Snow Lake is advancing the exploration of its two uranium projects to supply the raw materials needed for the clean energy transition and emissions free power, while exploration activities on its two lithium projects will remain limited until such time as the lithium market recovers from its current depressed levels. Learn more at www.snowlakeenergy.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd.. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law.
Investor Relations
Frank Wheatley, CEO
+1 (604) 562-1916
ir@snowlakelithium.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234675
FAQ
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