CLM Announces $300,000 Private Placement Flow-Through Financing

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TORONTO, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Consolidated Lithium Metals Inc. (TSXV: CLM | OTCQB: JORFF | FRA: Z36) (“CLM” or the “Company”) announces today that it intends to complete a best efforts non-brokered private placement financing of up to 15,000,000 common shares of the Company (each, a “Flow-Through Share”) issued on a “flow-through basis” (the “Offering”). Closing of the Offering is expected to occur on or about September 30, 2024. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day. Completion of the Offering is subject to a number of conditions, including without limitation, receipt of TSX Venture Exchange (“TSXV”) approval. Finder’s fees may be paid to eligible finders in accordance with the policies of the TSXV consisting of a cash commission equal to up to 10% of the gross proceeds raised under the Offering and finder warrants (“Finder Warrants”) in an amount equal to up to 10% of the number of Flow-Through Shares sold pursuant to the Offering. Each Finder Warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.05 per share for a period of 24 months following the closing date of the Offering. The Company intends to use the proceeds of the Offering to fund exploration expenses on its lithium mining properties located in Quebec.

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