First Lithium Announces Flow-Through Financing
December 14 2010 - 8:00AM
Marketwired
First Lithium Resources Inc. (the "Company") (TSX VENTURE:
MCI)(PINK SHEETS: FLNTF)(FRANKFURT: MHN) will proceed with a
non-brokered private placement of up to 4,000,000 Flow-Through
Units ("FT Units") at a purchase price of $0.15 per FT Unit for
total proceeds of up to $600,000. Each FT Unit shall consist of one
flow-through common share and one half warrant, with each whole
warrant entitling the holder to purchase one additional
non-flow-through common share of the Company for a period of two
years from issuance at a purchase price of $0.25 per share if
exercised in the first year and at a purchase price of $0.35 cents
per share if exercised in the second year.
The proceeds will be used for further development of the
Company's Canadian mineral properties.
Finders' fees may be payable on all or a portion of the private
placement as per TSX Venture Exchange policy.
This transaction is subject to the approval of the TSX Venture
Exchange.
ON BEHALF OF THE BOARD
Craig Naughty, President & CEO
For further information contact Craig Naughty or visit the
website at www.firstlithiumresources.com.
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: First Lithium Resources Inc. Craig Naughty President
& CEO (604) 669-0401 or toll free: 1 (877) 669-0401
(604)669-0414 (FAX) info@firstlithiumresources.com
www.firstlithiumresources.com
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