Spod Lithium - SPODF STOCK NEWS

Spod Lithium Corp (CSE: SPOD) (OTCQB: SPODF) has completed a non-brokered private placement of flow-through units, raising $272,750 in gross proceeds. The company issued 4,196,155 flow-through units at $0.065 per unit, with each unit comprising one flow-through common share and one warrant. Each warrant allows the purchase of an additional share at $0.10 within 24 months.

The warrants include an acceleration clause triggered if the stock maintains a $0.20 daily weighted average price for 20 consecutive trading days. The proceeds will fund exploration work on the company's LG4 and MegaLi properties. The company paid $15,592.50 in cash commissions and issued 239,885 finder's warrants to Laurentian Bank Securities and Raymond James.

SPOD Lithium Corp. (CSE: SPOD, OTCQB: SPODF) has received permits to commence drilling on its MegaLi and Lithium Grande 4 (LG4) properties in Quebec. The properties consist of six claim blocks adjacent to Patriot Battery Metals Inc.'s Shaakichiuwaanaan project. The initial, fully funded drill program will include at least 10 drill holes totaling approximately 1,500 meters, targeting Block 'A' and Block 'D' on LG4, and Block 'C' on MegaLi. This follows successful phase 2 field programs that identified pegmatite trends and gold anomalies. Drilling is expected to start next week.

SPOD Lithium Corp (CSE: SPOD) (OTCQB: SPODF) has appointed Richard Goldstein to its Board of Directors. Goldstein brings over 31 years of capital markets experience, including investment banking and institutional sales and trading. He is the founder of First Republic Capital Corp and previously served as Executive Vice-President at Standard Securities. Gerald Kelly has resigned as director but will continue as a consultant for two years without cash compensation. CEO Mathieu Couillard expressed confidence that Goldstein's network and expertise will benefit SPOD's development.

SPOD Lithium Corp has announced positive results from its second phase field program at the MegaLi and LG4 properties in James Bay, Quebec. The company identified four drilling targets based on soil samples showing lithium values above 21 ppm Li2O. A fully funded drill program worth approximately one million dollars is planned to commence in November 2024. The properties, adjacent to Patriot's Shaakichiuwaanaan project, showed significant findings including a 1.6 km strike length pegmatite on Block C and lithium-bearing zones with concentrations up to 431 ppm Li2O. The program collected 458 soil samples and 37 rock samples, with 24 samples exceeding the 95th percentile threshold.

SPOD Lithium Corp. (CSE: SPOD; OTCQB: SPODF) has completed a second phase field program on its MegaLi and Lithium Grande 4 properties adjacent to Patriot Battery Metals' Corvette project in Quebec, Canada. Key highlights include:

1. The Block 'C' pegmatite has been traced for at least 1.6 km of strike length, located about 5 km south of the Corvette lithium deposit.

2. 443 soil samples were collected and sent for analysis from various blocks.

3. The geology of blocks 'A', 'B', and 'D' is similar to the Corvette trend, with pegmatites hosted in amphibolite.

4. Future exploration, including mechanical stripping and drilling, will be planned once soil and channel sample results are received.

5. The company has issued 300,000 stock options to a consultant at $0.05 per option for a five-year period.

SPOD Lithium Corp (CSE: SPOD; OTCQB: SPODF) has completed a second phase field program on its MegaLi and Lithium Grande 4 properties adjacent to Patriot Battery Metals' Corvette project in Quebec, Canada. Key findings include:

1. A 1.6 km spodumene-bearing pegmatite traced on Block C, located 5 km south of the Corvette lithium deposit.

2. Collection of 452 soil samples for analysis across multiple blocks.

3. Identification of multiple pegmatites and continuity of 2023 lithium results.

4. Similarity in geology of Blocks A, B, and D to the Corvette trend.

5. 12 channel samples totaling 12 m cut on Block C for better continuous sampling.

The company plans future exploration, including mechanical stripping and drilling, pending soil and channel sample results.

SPOD Lithium has amended its mineral option agreements for the MegaLi and LG4 properties, extending its exploration expenditure deadlines to December 31, 2024. The company issued 1,175,000 Class A shares for each property and will issue an additional 1,375,000 shares by December 31, 2025, alongside $150,000 payments and $1,000,000 in exploration expenditures. SPOD also appointed Martin Dallaire, an expert with over 20 years in the financial industry and the junior mining sector, as a new director. These amendments aim to optimize exploration activities and strengthen strategic planning.

SPOD Lithium Corp (CSE: SPOD, OTCQB: SPODF) has announced a strategic plan for 2024, emphasizing focused exploration programs in Quebec and Ontario. The company is well-funded with $1.7 million in cash as of Q3 2024, enabling a fully funded exploration program. Key projects include the MegaLi and Lithium Grande 4 (LG4) in Quebec, adjacent to Patriot Battery Metals' Corvette property. In Ontario, SPOD is targeting properties like North Nipigon-Niemi, Byron, Barbara, and Ferdinand. The strategic goal is to enhance shareholder value through disciplined cost management and proactive pursuit of growth opportunities.