Le Lézard
Classified in: Mining industry, Business
Subject: FINANCING AGREEMENTS

CORRECTING and REPLACING - Ultra Lithium Inc. Closes Private Placement


VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- In a news release issued Friday, August 11, 2023, by Ultra Lithium Inc. (TSX-V: ULT OTCQB: ULTXF) under the same headline, please note the Warrant Share price in the second paragraph should be "$0.25 in the second twelve months following issuance" rather than "$0.12 in the second twelve months following issuance" as originally issued. Complete corrected text follows.

Ultra Lithium Inc. (TSX-V: ULT OTCQB: ULTXF) ("Ultra Lithium" or the "Company") is pleased to announce that it has closed a non-brokered private placement issuing 18,181,819 Units at a price of C$0.055 per Unit for gross proceeds of C$1,000,000.

Each Unit will be comprised of one common share of the Company (each, a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at $0.11 in the first twelve months following issuance and at $0.25 in the second twelve months following issuance. The net proceeds from the sale of Units will be used for general working capital purposes.

In connection with a portion of the Private Placement, the Company will pay Finder's fees of C$30,000 cash and issue 545,455 finder's shares to a finder. The Private Placement is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. The Unit Shares, Warrant Shares and Finders Shares will be subject to a hold period of four months and one day in accordance with applicable securities laws.

About Ultra Lithium Inc.
Ultra Lithium Inc. is an exploration and development company with a focus on the acquisition and development of lithium, gold, and copper assets. The Company holds a brine lithium property in Argentina, hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada, and a brine lithium property in the Big Smoky Valley, Nevada, USA. The Company also holds other gold and base metals properties in Argentina.

ON BEHALF OF THE BOARD OF DIRECTORS
"Kiki Smith"
Kiki Smith, CFO, Director

For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Email: [email protected]
Website: www.ultralithium.com
or view the Company's filings at www.SEDAR.com.

Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



These press releases may also interest you

23 fév 2024
The "Bioreactors and Fermenters Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to  ResearchAndMarkets.com's offering. The global bioreactors and fermenters market is expected to grow with a CAGR of 7.5% from...

23 fév 2024
Rogue Resources Inc. ("Rogue" or the "Company") is pleased to announce the sale of its Orillia quarry. This transaction was part of the Company's previously-announced sales processes for the Ontario stone quarries.Over 15...

23 fév 2024
Scottie Resources Corp.  ("Scottie" or the "Company") is pleased to announce that, further to the Company's news releases dated January 18, and January 22, 2024, the Company has closed the second and final tranche (the "Second Tranche") of its...

23 fév 2024
TroyMinerals Inc. ("Troy" or the "Company") ;; is pleased to announce it has engaged the services of Independent Trading Group ("ITG") to provide market-making services in accordance with policies of the Canadian...

23 fév 2024
Libero Copper & Gold Corporation ("Libero Copper" or the "Company") announces that it has amended the terms of its non-brokered private placement previously announced on February 16, 2024 (the "Offering"). The Offering by the Company under the...

23 fév 2024
CCSC Technology International Holdings Limited (the "Company" or "CCSC") , a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products, including connectors, cables and wire harnesses, today announced its...



News published on and distributed by: