Li-FT Power (LIFT.V) raised C$23 million as it closed its bought deal offering of 7.94-million shares, including the full exercise in of the underwriters' over-allotment option, it said Wednesday.
The shares were priced at C$2.90 each, said the company.
The company plans to use the net proceeds to fund the estimated care and maintenance costs for the first year of the Renard option period under the Renard option agreement and for working capital, it added.
The company's shares were last seen up C$0.06, or 2.1%, to C$2.93 on the TSX Venture Exchange.
Price: $2.93, Change: $+0.06, Percent Change: +2.09%