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Vancouver, British Columbia--(Newsfile Corp. - November 29, 2024) - Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580) ("Eureka Lithium" or "Eureka" or the "Company") announces that it intends to complete a non-brokered private placement financing (the "Offering") of up to 2,666,666 units of the Company (each a "Unit") at a price of $0.15 per Unit, for aggregate gross proceeds of up to $400,000.
Each Unit shall consist of one (1) common share of the Company (each a "Share") and one (1) Share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to purchase one (1) Share at an exercise price of $0.205 for a period of 24 months.
Closing of the Offering is anticipated to occur on or about the week of December 9, 2024. Closing is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The net proceeds of the Offering are intended to be used to advance the Canadian exploration expenses on its Nunavik properties and for general corporate and working capital purposes. Finders' fees may be paid to eligible arm's length persons with respect to certain subscriptions accepted by the Company.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units issuable under the Offering will be offered for sale to purchasers in certain provinces of Canada (other than Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106 (the "LIFE Exemption"). Pursuant to NI 45-106, the securities issued to Canadian resident subscribers under the Offering will not be subject to resale restrictions.
There is an offering document dated November 29, 2024 related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.eurekalithiumcorp.com. Prospective investors should read this offering document before making an investment decision.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.