Standard Lithium Raises $7.4 Million in Oversubscribed Financing
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VANCOUVER, British Columbia, June 22, 2017 (GLOBE NEWSWIRE) -- Standard Lithium
Ltd. ("Standard Lithium" or the "Company") (TSXV:SLL) (FRA:S5L) is pleased to
announce that it has completed the private placement of 9,894,785 common shares
at a price of $0.75 per share for gross proceeds of $7,421,089. Interest in the
placement far exceeded the expectations of the Company, and the additional
amount raised provides the Company with the capital needed to advance its
current projects and pursue strategic acquisitions in the lithium sector.
"We are extremely pleased with the interest received in this placement, and
completion represents a significant milestone for the Company," commented
Anthony Alvaro, a director of the Company. "The strong demand speaks to the
growing confidence in our team, projects and future vision for the Company."
In connection with completion of the private placement the Company paid cash
commissions of $74,840 and issued 590,687 common shares to certain parties who
introduced subscribers to the Company. All securities issued in the private
placement are subject to a four-month-and-one-day statutory hold period.
For further information readers 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: 22.06.2017 - 21:49 Uhr
Sprache: Deutsch
News-ID 549478
Anzahl Zeichen: 5229
contact information:
Town:
Vancouver
Kategorie:
Business News
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