Consolidated Lithium Announces $3,000,000 Private Placement Financing
CONSOLIDATED LITHIUM ANNOUNCES $3,000,000 PRIVATE
PLACEMENT FINANCING
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
November 1, 2023
Toronto (Canada) - CONSOLIDATED LITHIUM METALS INC. (TSXV: CLM | OTCQB: JORFF | FRA: Z36) (“Consolidated
Lithium” or the “Company“) announces that it intends to complete a best efforts non- brokered private placement
financing of up to 50,000,000 units (each, a “Unit”) at a price of $0.06 per Unit for gross proceeds of up to $3,000,000
(the “Offering”). Each Unit will consist of one common share of the Company and one -half of one common share
purchase warrant (each whole warrant, a “ Warrant”). Each Warrant entitles the holder to acquire one additional
common share of the Company at an exercise price of $0.08 for a period of 36 months from issuance.
Closing of the Offering is expected to occur on or about November 15, 2023. All securities issued in connection with
the Offering will be subject to a statutory hold period of four -months and one day. Completion of the Offering is
subject to a number of conditions, including without limitation, receipt of TSX Venture Exchange (“TSXV”) approval.
Finder’s fees may be paid to eligible finders in accordance with the policies of the TSXV consisting of a cash
commission equal to up to 6% of the gross proceeds rai sed under the Offering and finder warrants (“ Finder
Warrants”) in an amount equal to up to 6% of the number of Units sold pursuant to the Offering. Each Finder Warrant
will entitle the holder thereof to purchase one common share of the Company at a price of $ 0.08 per share for a
period of 24 months following the closing date of the Offering.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.
About Consolidated Lithium Metals Inc.
Consolidated Lithium Metals Inc. (formerly known as Jourdan Resources Inc.) is a Canadian junior mining exploration
company trading under the symbol “CLM” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange.
The Company is focused on the acquisition, exploration, production, and development of mining properties. The
Company’s properties are in Quebec, Canada, primarily in the spodumene -bearing pegmatites of the La Corne
Batholith, around North American Lithium’s Quebec lithium mine.
For more information:
Rene Bharti, Chief Executive Officer and President
Email | [email protected]
Phone | (416) 861-5800
Website |www.consolidatedlithium.com
Cautionary statements
This press release contains “forward -looking information” within the meaning of applicable Canadian securities legislation. Forward- looking
information includes, but is not limited to, statements with respect to the Offering, including the Company’s intended use of proceeds, closing
conditions and timing and other matters relating thereto. Generally, forward-looking information can be identified by the use of forward-looking
terminology such as “plans”, “expects” or “does not e xpect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results
“may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Consolidated Lithium to
be materially different from those expressed or implied by such forward- looking information, including but not limited to: receipt of necessary
approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour
disputes and shortages and other risks of the mining industry. Although Consolidated Lithium has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking information. Consolidated Lithium does not undertake to update any forward- looking information, except in accordance with
applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. S ecurities Act and
applicable state securities laws or an exemption from such registration is available.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.