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Announces Private Placement
posted on
May 26, 2009 09:49AM
May 26, 2009
Canada Lithium Corp. Announces Private Placement
TORONTO, ONTARIO--(Marketwire - May 26, 2009) - Canada Lithium Corp. (TSX VENTURE:CLQ) is pleased to announce a proposed non-brokered private placement of up to 25,000,000 common shares at a price of $0.16 per common share for aggregate gross proceeds of up to $4,000,000. Canada Lithium Corp. will pay a finder's fee equal to 7% of the gross proceeds of the offering and will issue broker warrants entitling the holder thereof to acquire common shares equal to 7% of the number of common shares sold, exercisable at a price of $0.25 per common share for a period of one year. The securities issued are subject to a four month hold period.
Completion of the private placement is subject to regulatory approval, including satisfaction of the requirements of the TSX Venture Exchange.
