FINWIRES · TerminalLIVE
FINWIRES

LithiumBank Resources to Raise C$5.4 Million Via Non-Brokered Private Placement

By

LithiumBank Resources (LBNK.V) plans to raise C$5.4 million through a non-brokered private placement offering of units, it said in a statement late Thursday.

The offering will consist of the issuance of up to 9-million units at C$0.60 apiece. Each offered unit will consist of one common share and one non-transferable common share purchase warrant.

Each two-year warrant will entitle the holder to buy a share for C$0.90. Closing of the offering is expected on Friday, Aug. 28.

Proceeds are expected to be used towards completion of a feasibility study at its Boardwalk Lithium Brine Project in northwest Alberta and for general working capital needs.

Shares of the company closed down 3.1% to C$0.62 on Thursday on the TSX Venture Exchange.

Related Articles

Mining & Metals

McEwen Mining's Copper Unit Secures $240 Million Loan to Advance Los Azules Project

McEwen Mining (MUX.TO. MUX) after trade Thursday said its McEwen Copper unit secured a $240-million senior secured loan with a four-year term from a group of lenders.The funding includes $112 million from Sprott Natural Resource Investment Partners, $85 million from Rob McEwen, and $43 million from other lenders, according to the statement.The company said the proceeds will fund engineering and early work on the Los Azules copper project in San Juan, Argentina, as well as general corporate needs.A final investment decision and full project financing are expected in mid-2027, with commercial copper production targeted for 2030, subject to financing and approvals, the company said, adding that McEwen Copper is also preparing for a potential initial public offering.The term loan carries 12% annual interest, paid monthly, with the principal due at maturity. Lenders also received 15,000 five-year warrants for every $1 million borrowed, with an exercise price of $40 per share, the company said.

$MUX$MUX.TO
Mining & Metals

Inventronics Q2 Net Earnings Stay Flat

Inventronics (IVX.V) said Thursday after trade that second-quarter net earnings were relatively flat, edging down slightly to C$0.027 per share, from C$0.028 per share, in the prior year period.The company said revenue rose slightly, to C$2.3 million from C$2.2 million, over the same period.Inventronics shares last traded on Aug. 19, closing unchanged at C$0.75 per share.

$IVX.V
Mining & Metals

Replenish Nutrients Q2 Loss Unchanged Year Over Year

Replenish Nutrients Holding (ERTH.CN) after the close on Thursday reported a loss of C$0.01 per share, matching the prior-year period.Revenue for the quarter ended on June 30 fell to C$978,300 from C$1.47 million in the same period last year.

$ERTH.CN