/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT INTENDED
FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
VANCOUVER, Jan. 23, 2018 /CNW/ - Standard Lithium
Ltd. ("Standard Lithium" or the "Company") (TSXV: SLL) (OTCQX:
STLHF) (FRA: S5L) announced today that it has entered into an
agreement with Canaccord Genuity Corp., as sole bookrunner and lead
underwriter on behalf of a syndicate of underwriters (the
"Underwriters"), pursuant to which the Underwriters have agreed to
purchase, on a bought deal, private placement basis, 9,530,000
units of the Company (the "Units"), at a price of $2.10 per Unit (the "Offering Price") for
aggregate gross proceeds of $20
million (the "Offering").
The Company has also granted the Underwriters an option (the
"Underwriters' Option") to purchase up to an additional 1,429,500
Units at the Offering Price, exercisable in whole or in part at any
time for a period of 48 hours prior to the closing of the Offering.
If the Underwriters' Option is exercised in full, the aggregate
gross proceeds of the Offering will be $23
million.
Each Unit will be comprised of one common share of the Company
and one-half of one common share purchase warrant (each whole
common share purchase warrant, a "Warrant"). Each Warrant will be
exercisable to acquire one common share of the Company (a "Warrant
Share") for a period of 24 months following the closing of the
Offering at an exercise price of $2.60 per Warrant Share. Net proceeds from the
Offering will be used for exploration and development activities on
the Company's properties and for general corporate purposes.
All securities issued or issuable under the Offering will be
subject to a statutory hold period lasting four months and one day
following the closing of the Offering.
Closing of the Offering is expected to occur on or about
February 13, 2018. The Offering is
subject to certain conditions including, but not limited to, the
receipt of all necessary regulatory and stock exchange approvals,
including the approval of the TSX Venture Exchange.
About Standard Lithium Ltd.
Standard Lithium's value creation strategy encompasses acquiring
a diverse and highly prospective portfolio of large-scale domestic
brine resources, led by an innovative and results-oriented
management team with a strong focus on technical skills. The
Company is currently focused on the immediate exploration and
development of the Bristol Dry Lake Lithium Project located in the
Mojave region of San Bernardino County, California; the
location has significant infrastructure in-place, with easy road
and rail access, abundant electricity and water sources, and is
already permitted for extensive brine extraction and processing
activities. The Company is also commencing resource evaluation on
up to approximately 33,000 acres of brine leases located in the
Smackover Formation.
Standard Lithium is listed on the TSX Venture under the trading
symbol "SLL"; quoted on the OTCQX under the symbol "STLHF"; and on
the Frankfurt Stock Exchange under the symbol "S5L". Please visit
the Company's website at www.standardlithium.com.
On behalf of the Board,
Standard Lithium Ltd.
Robert
Mintak, CEO & Director
The securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements. This press 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain certain "Forward-Looking
Statements" within the meaning of applicable Canadian securities
laws. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target, "plan", "forecast",
"may", "schedule" and other similar words or expressions identify
forward-looking statements or information. These forward-looking
statements or information may relate to the anticipated closing
date of the Offering, the anticipated use of proceeds of the
Offering, future prices of commodities, accuracy of mineral or
resource exploration activity, reserves or resources, regulatory or
government requirements or approvals, the reliability of third
party information, continued access to mineral properties or
infrastructure, fluctuations in the market for lithium and its
derivatives, changes in exploration costs and government regulation
in Canada and the United States, and other factors or
information. Such statements represent the Company's current views
with respect to future events and are necessarily based upon a
number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social risks,
contingencies and uncertainties. Many factors, both known and
unknown, could cause results, performance or achievements to be
materially different from the results, performance or achievements
that are or may be expressed or implied by such forward-looking
statements. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements or
information to reflect changes in assumptions or changes in
circumstances or any other events affections such statements and
information other than as required by applicable laws, rules and
regulations.
SOURCE Standard Lithium Ltd.
