Standard Lithium Receives Orders of $6.5 Million for Financing
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VANCOUVER, British Columbia, June 14, 2017 (GLOBE NEWSWIRE) -- Standard Lithium
Ltd. ("Standard Lithium" or the "Company") (TSXV:SLL) (FRA:S5L) is pleased to
announce that it has received subscriptions for 8,666,667 common shares for a
non-brokered private placement to be completed at a price of $0.75 per share.
Initial interest in the placement strongly exceeded expectations and allotments
by the Company, and subscriptions were received from a number of institutional
and strategic investors.
"We are very encouraged by the interest in the private placement and the
confidence shown in Standard Lithium" stated Robert Mintak, Chief Executive
Officer of Standard Lithium, "We view this as a strong validation of our
business model and our plan for future growth. With this round of funding, we
will be in a position to devote significant resources toward advancing our
current projects and pursuing acquisition opportunities as we remain extremely
optimistic with the future prospects of the lithium market."
Completion of the private placement remains subject to the approval of the TSX
Venture Exchange. All securities to be issued in the private placement will be
subject to a four-month-and-one-day statutory hold period. The Company intends
to pay a commission to certain eligible individuals who have introduced
subscribers to the private placement.
As a result of the strong demand for the placement, the Company intends to
accept additional subscriptions and completion of the placement is expected to
occur shortly. For further information, interested parties should contact
Anthony Alvaro at 604.260.4793.
About Standard Lithium
Standard's value creation strategy encompasses acquiring a diverse and highly
prospective portfolio of large-scale domestic brine resources, led by an
innovation & results oriented management team with a strong focus on technical
skills. The Company is currently focused on the exploration of its 16,000+ acre
Bristol Lake, Brine Project located in the Mojave region of San Bernardino
County, California. The location has significant infrastructure in-place, with
easy road and rail access, abundant electricity and water sources, and is
already permitted for extensive brine extraction and processing activities.
Standard also recently announced the acquisition of the 40,000+ acre Paradox
Basin Project located in Grand County, Utah.
On behalf of the Board,
Standard Lithium Ltd.
Anthony Alvaro, Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995
and applicable Canadian securities laws. When used in this news release, the
words "anticipate", "believe", "estimate", "expect", "target, "plan",
"forecast", "may", "schedule" and other similar words or expressions identify
forward-looking statements or information. These forward-looking statements or
information may relate to future prices of commodities, accuracy of mineral or
resource exploration activity, reserves or resources, regulatory or government
requirements or approvals, the reliability of third party information, continued
access to mineral properties or infrastructure, fluctuations in the market for
lithium and its derivatives, changes in exploration costs and government
regulation in Canada and the United States, and other factors or information.
Such statements represent the Company's current views with respect to future
events and are necessarily based upon a number of assumptions and estimates
that, while considered reasonable by the Company, are inherently subject to
significant business, economic, competitive, political and social risks,
contingencies and uncertainties. Many factors, both known and unknown, could
cause results, performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed or implied by
such forward-looking statements. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements or information
to reflect changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as required by
applicable laws, rules and regulations.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Standard Lithium Ltd. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 14.06.2017 - 14:30 Uhr
Sprache: Deutsch
News-ID 547923
Anzahl Zeichen: 5528
contact information:
Town:
Vancouver
Kategorie:
Business News
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