Imagine Lithium Inc. (TSXV: ILI) has closed a non-brokered private placement for gross proceeds of $8,421,450. In addition, the company has closed a private placement for gross proceeds of $710,700. Total gross proceeds from the private placements will be $9,132,150.
The gross proceeds from the sale of the FT Shares will be used for further exploration drilling and general exploration expenditures on the Jackpot Lithium Project located approximately 140 km north-east of Thunder Bay, Ontario,
An exploration programme on the property will incorporate expansion drilling at the Jackpot Main Zone, exploration drilling on additional targets beyond the Main Zone, as well as a prospecting and sampling programme to cover the entire Jackpot property package.
“This financing illustrates investor confidence in the Jackpot Lithium Project. The project’s proximity to infrastructure and accessibility makes it a stand-out from many lithium assets in Canada,” President and CEO, J.C. St-Amour, said.
“The funds raised in this financing will allow us to expand and accelerate our exploration activities with additional drilling, sampling, and prospecting planned over the next two years. The Jackpot Main Zone remains open with significant expansion potential and a number of drill-ready lithium showings have been identified.
“In addition, the broader property package contains numerous granitic pegmatites that will also be tested in this program. An exploration program of this size can truly unveil the potential of Jackpot.”
For further information please visit: https://www.imaginelithium.com/
