Chile’s Enami eyes lithium license in boost to partner search
Altoandinos would be the first project to go through community consultation and permitting under President Gabriel Boric’s public-private approach.
Levon Resources announced that it has today closed a previously announced financing pursuant to which the Company has issued 20,600,000 common shares at a price of $1.95 per share for gross proceeds of $40,170,000.
The Offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp. and included Jennings Capital Inc. and Macquarie Capital Markets Canada Ltd. (the “Underwriters”). The Underwriters received a cash commission of 5.0% of the gross proceeds raised through the Offering and common share purchase warrants (“Underwriter Warrants”) entitling the Underwriters to purchase that number of common shares of the Company equal to 5.0% of the Purchased Shares sold under the Offering. Each Underwriter Warrant shall be exercisable to acquire one common share of the Company at an exercise price of $1.95 for a period of 18 months from closing of the Offering.
The Company intends to use the net proceeds of the Offering for continued exploration of the Cordero property located in Chihuahua, Mexico, and for working capital.
Read the full news release here. Image is from Levon Resources, results from the company’s drill result at C10-66.
