/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT INTENDED
FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
VANCOUVER, Feb. 25, 2019 /CNW/ - Standard Lithium Ltd.
("Standard Lithium" or the "Company") (TSXV: SLL) (OTCQX: STLHF)
(FRA: S5L) announces that it has entered into an agreement with a
syndicate of underwriters led by Canaccord Genuity Corp.
(collectively, the "Underwriters") pursuant to which the
Underwriters have agreed to purchase, on a bought deal basis
pursuant to a short form prospectus, 10,500,000 units (the "Units")
of the Company at a price of $1.00
per Unit (the "Offering Price") for gross proceeds of $10,500,000 (the "Underwritten Offering").
Each Unit shall consist of one common share and one-half of one
common share purchase warrant of the Company (each whole common
share purchase warrant, a "Warrant"). Each Warrant shall be
exercisable to acquire one common share of the Company for a period
of 36 months from the Closing Date (as herein defined) at an
exercise price of $1.30, subject to
adjustment in certain events.
In addition, the Company has granted the Underwriters an option
(the "Over-Allotment Option" and together with the Underwritten
Offering, the "Offering") to purchase up to 1,575,000 additional
Units at the Offering Price to raise additional gross proceeds of
up to 15% of the Underwritten Offering, for a period of 30 days
after and including the Closing Date to cover over-allotments, if
any, and for market stabilization purposes.
The net proceeds from the Offering are expected to be used by
the Company for advancing its existing asset portfolio and for
general working capital purposes.
Closing of the Offering is expected to take place on or about
March 19, 2019 and is subject to
certain conditions including, but not limited to the receipt of all
applicable regulatory approvals including approval of the TSX
Venture Exchange.
The Units to be issued under the Offering will be offered by way
of a short form prospectus in each of the provinces of Canada, except Québec. The Units may
also be offered in the United
States on a private placement basis pursuant to exemptions
from the registration requirements of the United States Securities
Act of 1933, as amended (the "U.S. Securities Act"), and in certain
other jurisdictions in accordance with applicable securities
laws.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities have
not been and will not be registered under the U.S. Securities Act,
or the securities laws of any state of the United States and may not be offered or
sold within the United States (as
defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
About Standard Lithium Ltd.
Standard Lithium (TSX: SLL) is a specialty chemical company
focused on unlocking the value of existing large-scale US based
lithium-brine resources. The company believes new lithium
production can be brought on stream rapidly by minimizing project
risks at selection stage (resource, political, geographic,
regulatory and permitting), and by leveraging advances in lithium
extraction technologies and processes. The Company's flagship
project is located in southern Arkansas, where it is engaged in the testing
and proving of the commercial viability of lithium extraction from
over 150,000 acres of permitted brine operations utilizing the
Company's proprietary selective extraction technology. The Company
is also pursuing the resource development of over 30,000 acres of
separate brine leases located in southwestern Arkansas and approximately 45,000 acres of
mineral leases located in the Mojave Desert in San Bernardino County, California.
Standard Lithium is listed on the TSX Venture Exchange under the
trading symbol "SLL"; quoted on the OTC - Nasdaq Intl Designation
under the symbol "STLHF"; and on the Frankfurt Stock Exchange under
the symbol "S5L". Please visit the Company's website at
www.standardlithium.com.
On behalf of the Board,
Standard Lithium Ltd.
Robert
Mintak, CEO & Director
The securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any
State in which such offer, solicitation or sale would be
unlawful.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain certain "Forward-Looking
Statements" within the meaning of applicable Canadian securities
laws. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target, "plan", "forecast",
"may", "schedule" and other similar words or expressions identify
forward-looking statements or information. These forward-looking
statements or information may relate to the anticipated closing
date of the Offering, the anticipated use of proceeds of the
Offering, future prices of commodities, accuracy of mineral or
resource exploration activity, reserves or resources, regulatory or
government requirements or approvals, the reliability of third
party information, continued access to mineral properties or
infrastructure, fluctuations in the market for lithium and its
derivatives, changes in exploration costs and government regulation
in Canada and the United States, and other factors or
information. Such statements represent the Company's current views
with respect to future events and are necessarily based upon a
number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social risks,
contingencies and uncertainties. Many factors, both known and
unknown, could cause results, performance or achievements to be
materially different from the results, performance or achievements
that are or may be expressed or implied by such forward-looking
statements. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements or
information to reflect changes in assumptions or changes in
circumstances or any other events affections such statements and
information other than as required by applicable laws, rules and
regulations.
SOURCE Standard Lithium Ltd.
