Ultra Lithium Inc. Closes Private Placement
September 29 2023 - 5:13PM
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 3,636,364 Units at a price
of C$0.055 per Unit for gross proceeds of C$200,000.
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.
There are no finders fees associated with this
Private Placement. The Private Placement is subject to receipt of
all necessary regulatory approvals including the TSX Venture
Exchange. The Unit Shares and Warrant 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 SmithTelephone: 778 968-1176Email:
kiki@ultralithium.comWebsite: www.ultralithium.comor view the
Company’s filings at www.SEDAR.com.
Cautionary Statement Regarding
“Forward-Looking” InformationSome 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.
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