Liberty One Lithium Corp. (LBY:CA) (LRTTF) has entered into an engagement agreement with Mackie Research Capital Corp. pursuant to which the agent has agreed to act as agent of the company, on a best-efforts basis, in connection with the offering of up to $5-million of units of the company at a price of $1.20 per unit.
Each Unit will be comprised of one common share of the Company and one common share purchase warrant. Each Warrant will be exercisable to acquire one common share for a period of 24 months following the closing date of the Offering at an exercise price of $1.50 per Warrant Share, subject to adjustment in certain events.
The Company has agreed to grant the Agent an over-allotment option exercisable in whole or in part, for a period of 30 days from the closing of the Offering to offer an additional 15% of the number of Units at the Offering Price, solely to cover over-allotments, if any, and for market stabilization purposes.
Net proceeds from the Offering will be used primarily towards further development of the Company’s Pocitos West Project in the Salta Province, Argentina and for working capital and general corporate purposes.
The Offering is in the form of a best efforts public offering (i) in each of the provinces of Canada, other than Quebec, (ii) in the United States under Regulation D of the United States Securities Act of 1933, as amended (the "US Securities Act") and in each case in compliance with the securities laws of the applicable states of the United States, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Common Shares, Warrants or Warrant Shares of the Company.
The Company will file a short form prospectus in such jurisdictions of Canada, other than Quebec, as agreed by the Agent, to qualify for distribution of the Common Shares and Warrants.
Closing of the Offering is expected to occur on or about December 22, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.
About Liberty One Lithium (TSX VENTURE: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T)
Liberty One Lithium Corp. is an exploration company focused on the acquisition and development of high grade lithium brine deposits. The extensive Pocitos West Argentinian property is based in the heart of the well-known "Lithium Triangle" and positioned on-trend within 25 km of several lithium producers. The property is ideally situated for lithium brine production via low-cost and well-proven evaporation methods, and is adjacent to substantive infrastructure and a skilled, experienced labour force. Liberty’s international team is comprised of recognized technical experts that have focused on lithium for decades. The Company is stringently managed with a critical eye on value-creative decision making, aimed at ensuring the Company is well-capitalized and consistently creating value for shareholders. Read more at: www.libertyonelithium.com/
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