LI3 Energy, Inc. (OTC:LIEG) has announced the initial closings of its private placement offering to institutional and accredited investors and non United States persons. The offering stands for a total of 10,340,000 units for gross proceeds of $2,585,000. The offering price is $0.25 per unit.
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Each unit contains one share of common stock, a five year warrant to purchase one half of one share at an exercise price of $0.50 per whole share, and a five year warrant to buy one half of one share at an exercise price of $1.00 per whole share. The net proceeds will be used for the consummation of the company’s initial acquisitions of Next Lithium Corp, and Puna Lithium Corporation. The acquisitions will fund other lithium mining opportunities in the Americas.
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