ANNOUNCES CLOSING OF $5 M PRIVATE PLACEMENT
Standard Lithium Ltd. (SLL.V) has closed its previously announced non-brokered private placement for gross proceeds of $5.0-million.
A total of 20,000,600 common shares were issued at a price of 25 cents per share.
Net proceeds from the private placement will be used for the identification and evaluation of potential lithium asset opportunities in North America, for the possible staking of claims if warranted, for an expanded work program on the Mojave property, and for general working capital.
All shares issued pursuant to the private placement are subject to a four-month hold period expiring on May 14, 2017. The private placement remains subject to TSX Venture Exchange final acceptance.