Lithium X Energy Corp. announced it is planning a C$13 million bought deal financing to fund its Sal de los Angeles lithium project in Argentina.
The financing, outlined in an Oct. 11 press release, comprises 6.85 million units priced at C$1.90 per unit. The units are for one share and a half-share purchase warrant. The full share available through the warrants is priced at C$2.75 and is good for 36 months after the financing closes.
The financing also comes with a roughly 1 million unit overallotment that could boost total proceeds to C$15 million.
Lithium X recently consolidated control of Sal de los Angeles and earlier this year raised C$15 million in another bought deal financing to fund the project.
Closing is expected around Oct. 31.