(Energy Analytics Institute, Ian Silverman, 26.Jul.2018) – Advantage Lithium Corp. closes private placement.
In the process, the company issued 15,585,956 common shares for aggregate gross proceeds to Advantage Lithium of C$12,001,186.
Pursuant to an agency agreement, Advantage Lithium will pay a cash commission of 6% on a portion of the gross proceeds from the private placement to Jett Capital Advisors, LLC.
Additionally, Advantage Lithium announced that Orocobre Limited and an insider of the corporation have exercised participation rights to maintain pro rata ownership. Insiders have participated in this financing purchasing 15,176,956 shares for $11,686,256.
“We are pleased with the successful completion of this financing and the continued support from Orocobre and other existing shareholders,” reported Advantage Lithium in an official statement, citing its CEO & Director David Sidoo. “We have underpinned our shareholder base with the addition of a high-quality institutional investor. Advantage is now in a very strong cash position.”