The latest announcement is out from Imagine Lithium Inc ( (TSE:ILI) ).
Imagine Lithium Inc. has closed the first tranche of a $2.35 million private placement, raising $780,000 through the issuance of 26 million common shares. The funds will be used for corporate purposes and exploration expenditures at the Jackpot Lithium Project. The second tranche is expected to close by the end of March, potentially making Interway International LLC an insider by holding over 10% of the company’s shares. This financing supports Imagine Lithium’s exploration and consolidation strategies, aiming to enhance shareholder value.
More about Imagine Lithium Inc
Imagine Lithium Inc. operates in the lithium exploration industry, focusing on the development of lithium projects. The company’s primary project is the Jackpot Lithium Project located in Ontario, Canada, which benefits from proximity to infrastructure such as highways and the port of Thunder Bay.
Average Trading Volume: 130,056
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$5.54M
For an in-depth examination of ILI stock, go to TipRanks’ Stock Analysis page.