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Vancouver, British Columbia--(Newsfile Corp. - February 29, 2024) - ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to announce that it has closed a non-brokered private placement financing, previously announced on February 23, 2023. The Company issued 14,000,000 units (the "Units") at $0.05 CAD per Unit for aggregate gross proceeds of $700,000 CAD (the "Offering").
Each Unit is comprised of one (1) common share and one (1) transferable common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.10 for three (3) years from closing of the Offering. Finder's fee of $37,450 and 749,000 finder's warrants were paid to arm's lengths parties in connection with the Offering (each finder's warrant excercisable on the same terms as the warrants forming part of the Units).
Certain directors and management of the Company purchased an aggregate of 1,450,000 Units ($72,500) under the Offering. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.
The Issuer intends to use the proceeds of the Offering to fund its lithium projects in North America, as well as for general working capital purposes.
All securities issued pursuant to the Offering are subject to a hold period of four months and one day in accordance with applicable Canadian securities laws.
About ACME Lithium Inc.
Led by an experienced team, ACME is a mineral exploration company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in a project area located in Clayton Valley, Nevada and has entered into option agreements with third parties on its Fish Lake Valley, Esmeralda County Nevada project, and at Shatford, Birse, and Cat-Euclid Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com
For Investor Inquiries
Anthony Simone
Simone Capital
Telephone: (416) 881-5154
asimone@simonecapital.ca
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