Eureka Lithium Corp. Announces Upsized Financing and Files Amended LIFE Offering Document

Rhea-AI Summary

Eureka Lithium (OTCQB: UREKF) filed an amended LIFE offering document effective April 21, 2026, upsizing the LIFE Offering to $2,500,000. The non-brokered LIFE Offering permits up to 5,952,380 units at $0.42 each, each unit containing one share and one warrant exercisable at $0.50 for 24 months.

The company also plans two concurrent non-brokered placements: up to $2,000,000 of Concurrent Private Placement Units at $0.42, and up to $2,000,000 of flow-through FT Units at $0.48 with FT warrants exercisable at $0.60 for 24 months.

Positive

• LIFE Offering upsized to $2,500,000
• Immediate financing access via three non-brokered placements
• Warrants provide potential additional cash on exercise

Negative

• Potential share dilution from up to 14,880,950 new units total
• Concurrent offering securities subject to 4-month+1-day hold period
• Securities not registered for sale in the United States

Vancouver, British Columbia--(Newsfile Corp. - April 21, 2026) - Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S58) ("Eureka Lithium" or "Eureka" or the "Company") announces that it has filed an amended and restated LIFE Offering Document (the "Amended Offering Document") effective April 21, 2026, which amends the offering document filed by the Company on March 11, 2026. As a result of strong investor demand, the Amendment Offering Document was filed to increase the size of the Life Offering (defined below) to $2,500,000. Further details are below.

The Amended Offering Document relates to a non-brokered private placement financing under the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Exemption") of up to 5952380 units of the Company (the "Units") at a price of $0.42 per Unit for aggregate gross proceeds of up to $2,500,000 (the "LIFE Offering"). Each Unit will be comprised of one common share (the "Common Shares") and one Common Share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one (1) Common Share (the "Warrant Shares") at an exercise price of $0.50 per Warrant Share for a period of 24 months from the closing date of the LIFE Offering. The Warrants will be governed by the terms and conditions set forth in the certificates representing the Warrants.

The Company also intends to complete two concurrent non-brokered private placements (the "Concurrent Offerings"). First, an offering of up to 4,761,904 units (the "Concurrent Private Placement Units") at a price of $0.42 per Concurrent Private Placement Unit for aggregate gross proceeds of up to $2,000,000. Each Concurrent Private Placement Unit will be comprised of one Common Share and one Common Share purchase warrant (the "Concurrent Private Placement Warrants"), and with each Concurrent Private Placement Warrant being exercisable for a period of 24 months, to acquire one Common Share (the "Concurrent Private Placement Warrant Shares") at an exercise price of $0.50 per Concurrent Private Placement Warrant Share.

Second, an offering of up to 4,166,666 units (the "FT Units") at a price of $0.48 per FT Unit for aggregate gross proceeds of up to $2,000,000. Each FT Unit being comprised of one Common Share issued on a "flow-through" bass and one (non-flow-through) Common Share purchase warrant (the "FT Warrants"), with each FT Warrant being exercisable to acquire, for a period of 24 months, one (non-flow-through) Common Share (the "FT Warrant Share") at an exercise price of $0.60 per FT Warrant Share. The Concurrent Private Placement Warrants and FT Warrants will be governed by the terms and conditions set forth in the certificates representing the Warrants.

The securities issued in connection with the Concurrent Offerings will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The Amended Offering Document related to the LIFE Offering is accessible under the Company's SEDAR+ profile at https://www.sedarplus.ca and on the Company's website at https://eurekalithiumcorp.com. Prospective investors should read the Offering Document before making an investment decision.

Subject to compliance with applicable regulatory requirements and in accordance with the LIFE Exemption, the LIFE Offering is being made to purchasers resident in Canada, except Quebec. Because the LIFE Offering is being completed pursuant to the LIFE Exemption, the securities issued in connection with the LIFE Offering will not be subject to resale restrictions in accordance with applicable Canadian securities laws. The securities issued in connection with the Concurrent Offerings will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Eureka Lithium Corp.

Eureka holds approximately 158 claims in the emerging Raglan West, Raglan South and New Leaf Lithium Camps in Quebec, Canada. The Company also holds a 100% interest in the Tyee Titanium-Vanadium Project located in Quebec, and an option to acquire a 100% interest (subject to a 2% NSR) in the Cabin Lake Polymetallic Project located in British Columbia.

For more information please contact:

Danny Matthews
Chief Executive Officer
Email: info@eurekalithiumcorp.com

Cautionary Statement

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, such as statements regarding the use of proceeds from the LIFE Offering and the Concurrent Offerings, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements reflect management's expectations and are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293735

FAQ

What did Eureka Lithium (UREKF) announce about the LIFE Offering on April 21, 2026?

The company upsized the LIFE Offering to $2,500,000 by filing an amended offering document. According to the company, up to 5,952,380 units are available at $0.42 per unit, each with one share and one warrant exercisable at $0.50 for 24 months.

How much can Eureka Lithium (UREKF) raise from the concurrent private placements?

Eureka can raise up to $4,000,000 from two concurrent placements. According to the company, one placement targets $2,000,000 at $0.42 units and a flow-through FT placement targets $2,000,000 at $0.48 FT units.

What are the warrant terms for units in Eureka Lithium's (UREKF) offerings?

Warrants issued entitle holders to one share for 24 months at specified prices. According to the company, LIFE and concurrent private placement warrants exercise at $0.50, FT warrants at $0.60, each exercisable for 24 months.

Will securities from Eureka Lithium's (UREKF) concurrent offerings be immediately tradable?

No, concurrent offering securities will be subject to resale restrictions. According to the company, securities from concurrent placements carry a statutory hold period of four months and one day under Canadian law.

Can U.S. investors participate in Eureka Lithium's (UREKF) financings?

No, the securities are not registered for U.S. sale and cannot be offered in the U.S. According to the company, offerings are not registered under the U.S. Securities Act and may not be sold in the United States without registration or an exemption.