Century Lithium (LCE.V) has now closed its C$7M brokered financing. The company issued almost 15 million units at C$0.47 per unit, with each unit consisting of one common share and a full warrant. Each full warrant allows a warrant holder to acquire an additional share for C$0.65 during a five year period. The proceeds of the financing will be used for general working capital purposes as well as advancing the Angel Island lithium project through additional technical and permitting work.
The share price has been pretty weak since the financing was announced, and the current share price represents a double digit discount versus the placement price.
Disclosure: The author has a long position in Century Lithium. Century Lithium is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
