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Lithium X to raise C$13M for Sal de los Angeles lithium project

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Lithium X to raise C$13M for Sal de los Angeles lithium project

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.