Lithium-focused exploration company Standard Lithium (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) today indicated that it has closed its previously announced bought deal offering, including partial exercise of the over-allotment option. According to the update, a total of 11,390,500 company units were issued at a price of $1.00 each for gross proceeds of $11,390,500. Each unit consists of one common share and one-half of one common share purchase warrant of the company (each whole common share purchase warrant). Until March 21, 2022, each warrant is exercisable to acquire one common share of the company at an exercise price of $1.30 per share, subject to adjustment in certain events.
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About Standard Lithium Ltd.
Standard Lithium is a specialty chemical company focused on unlocking the value of existing large-scale U.S.-based lithium-brine resources. The company believes new lithium production can be brought on stream rapidly by minimizing project risks at selection stage (resource, political, geographic, regulatory and permitting), and by leveraging advances in lithium extraction technologies and processes. The company’s flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations utilizing the company’s proprietary selective extraction technology. The company is also pursuing the resource development of over 30,000 acres of separate brine leases located in southwestern Arkansas and approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino County, California. For more information, visit the company’s website at www.StandardLithium.com.
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