/NOT FOR DISSEMINATION IN THE U.S. OR TO U.S.
WIRE SERVICES/
TSX Venture Exchange Symbol: AAL
VANCOUVER, July 18, 2018 /CNW/ - Advantage Lithium Corp.
(the "Corporation" or "Advantage Lithium") (TSX Venture: AAL)
(OTCQX: AVLIF) is pleased to announce that it has arranged a
private placement (the "Private Placement") of 15,585,000
common shares ("Common Shares") of Advantage Lithium at a
price of $0.77 per Common Share for
gross proceeds of $12,000,450. The
Corporation also reports that subscribers have been identified to
fill the placement. Advantage Lithium will use the proceeds from
the Private Placement for general working capital and to fund
continued development and exploration activities on its Lithium
properties in Argentina. The
Common Shares issued pursuant to the Private Placement will be
subject to a four month hold period from the date of closing.
Advantage Lithium anticipates that insiders of the Corporation,
including Orocobre Limited (the "Insider"), will exercise
participation rights in order to maintain their existing ownership
interest in the Corporation. In connection with the Private
Placement, the Insider also intends to arrange for the sale of up
to 8,571,450 Common Shares, held by the Insider prior to the
closing of the Private Placement, through the facilities of the TSX
Venture Exchange Inc. (the "TSXV") (the "Swap"), and
to use 100% of the proceeds from the Swap to participate in the
Private Placement. The Swap will allow Advantage Lithium to add key
cornerstone institutional investors to the Corporation's register
of shareholders. The Private Placement remains subject to the
approval of the TSXV.
President, CEO & Director David
Sidoo commented "We are pleased to be adding prominent
institutional investors to our shareholder registry and very
encouraged to see Orocobre and other insiders supporting their
pro-rata equity positions in Advantage."
Jett Capital Advisors, LLC has been engaged by Advantage Lithium
in connection with the Private Placement and, pursuant to the terms
of the agency agreement, will be paid a cash commission equal to 6%
on a portion of the proceeds of this Private Placement.
ADVANTAGE LITHIUM CORP.
Per:
|
"David
Sidoo"
|
|
|
David Sidoo,
President
|
|
Tel:
604.343.3760
|
|
Fax:
604.683.1585
|
|
Email:
info@advantagelithium.com
|
About Advantage Lithium Corp.
Advantage Lithium Corp
is focused on developing its 75% owned Cauchari lithium project,
located in Jujuy, Argentina. The Company also owns 100%
interest in three additional lithium exploration properties in
Argentina: Antofalla, Incahuasi,
and Guayatayoc. The Company is headquartered in Vancouver, British Columbia and trades on the
TSX Venture Exchange (TSX-V:AAL) OTCQX Best Market in the U.S.
(OTCQX: AVLIF).
Further information about the Company can be found at
www.advantagelithium.com.
Cautionary Statement:
Certain information contained
in this press release constitutes "forward-looking information",
within the meaning of Canadian legislation. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "is expected", "intends", or
"has the potential to". Forward looking statements contained in
this press release may include statements regarding the future
operating or financial performance of Advantage that involve known
and unknown risks and uncertainties which may not prove to be
accurate. Actual results and outcomes may differ materially from
what is expressed or forecasted in these forward-looking
statements. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations.
The forward-looking statements included in this press release are
made as of the date of this press release and the Company disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities
legislation.
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.
SOURCE Advantage Lithium Corp