Vision Lithium Announces Closing of Flow- Through Share Offering for Gross Proceeds of $503,000
Vision Lithium Announces Closing of Flow-
Through Share Offering for Gross Proceeds of
$503,000
VAL-D'OR, QC
,
Dec. 31, 2019
/CNW/ - Vision Lithium Inc. (TSXV: VLI) (OTC PINK: ABEPF) (the
"
Company
" or "
Vision Lithium
") is pleased to announce that it has closed a private placement of
10,060,000 common shares of the Corporation that will qualify as "flow-through shares" (within the
meaning of subsection 66(15) of the
Income Tax Act
(
Canada
) and section 359.1 of the Taxation Act
(Québec)) (the "
Flow-Through Shares
") at a price of
$0.05
per Flow-Through Share for aggregate
gross proceeds of
$503,000
(the "
Offering
").
In connection with the Offering, finders' fees totalling
$30,380
were paid to third parties dealing at
arm's length with the Company.
The gross proceeds from the Offering will be used by the Corporation to incur eligible "Canadian
exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are
defined in the
Income Tax Act
(
Canada
) (the "
Qualifying Expenditures
") related to the
Corporation's projects in Québec. All Qualifying Expenditures will be renounced in favour of the
subscribers of the Flow-Through Shares effective
December 31, 2019
.
All securities issued under the Offering are subject to a four month hold period which will expire
May
1, 2020
. The Offering is subject to final acceptance of the TSX Venture Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended,
and may not be offered or sold in
the United States
absent registration or an applicable exemption
from the registration requirements. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such
offer, solicitation or sale would be unlawful.
About Vision Lithium Inc.
Vision Lithium Inc. is a junior exploration company focused on exploring and developing high quality
battery mineral assets including lithium and copper in safe jurisdictions, primarily in
Canada
. The
Company is led by skilled and qualified mineral exploration experts and business professionals with a
deep understanding of the lithium battery materials market, which is driven by lithium ion batteries.
Vision Lithium is committed to discovering new world class assets and bringing these assets to
production, starting with its flagship projects the Sirmac lithium property and the Dôme
Lemieux
copper property, both located in
Quebec, Canada
. Nemaska Lithium Inc. is the largest shareholder
of Vision Lithium.
For further information on the Company, please visit our website at
www.visionlithium.com
or contact
us at
.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news
release contains "forward-looking information" within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at the date of this news release.
Forward-looking information involves risks, uncertainties and other factors that could cause actual
events, results, performance, prospects and opportunities to differ materially from those expressed
or implied by such forward-looking information. Forward-looking information in this news release
includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the
Corporation, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; the tax
treatment of the Flow-Through Shares; the timing of the tax renunciation to the subscribers,
objectives, goals or future plans; statements regarding exploration results and exploration plans.
Factors that could cause actual results to differ materially from such forward-looking information
include, but are not limited to, capital and operating costs varying significantly from estimates; the
preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required
governmental, environmental or other project approvals; uncertainties relating to the availability and
costs of financing needed in the future; changes in equity markets; inflation; fluctuations in
commodity prices; delays in the development of projects; the other risks involved in the mineral
exploration and development industry; and those risks set out in the Corporation's public documents
filed on SEDAR at
www.sedar.com
. Although the Corporation believes that the assumptions and
factors used in preparing the forward-looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur in the disclosed time frames or
at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, other than as
required by law.
SOURCE
Vision Lithium Inc.
View original content:
http://www.newswire.ca/en/releases/archive/December2019/31/c8047.html
%SEDAR: 00003760E
For further information:
For additional information regarding the Offering, please contact: Victor
Cantore, Executive Chairman, Tel: 514-831-3809, Email: [email protected]; Yves
Rougerie, President and Chief Executive Officer, Tel: 819-874-6200, Email:
CO: Vision Lithium Inc.
CNW 16:30e 31-DEC-19