Wednesday, August 06, 2025
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
First tranche of LIFE offering closed. Century Lithium recently closed the first tranche of its previously announced the Listed Issuer Financing Exemption (LIFE) offering of up to 16,666,667 units at a price of C$0.30 per unit for gross proceeds of up to C$5,000,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.45 for a period of 60 months following the issuance of the units. In the first tranche, Century issued a total of 9,559,833 units for aggregate gross proceeds of C$2,867,950. Certain directors and officers of the company purchased a total of 168,333 units in the initial closing.
Use of net proceeds. Net proceeds from the financing will be used to complete an updated feasibility study for the company’s Angel Island Lithium Project, complete the project’s Plan of Operations, work towards National Environmental Policy Act (NEPA) compliance, and general working capital.
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