Ultra Lithium Inc. Closes Final Tranche of C$5 Million Private Placement Including C$4.14 Million Strategic Investment by Zangge

VANCOUVER, British Columbia, May 24, 2022 (GLOBE NEWSWIRE) -- Ultra Lithium Inc. (TSX-V: ULT OTCQB: ULTXF) (“Ultra Lithium” or the “Company”) is pleased to announce that it has closed the final tranche of its previously announced non-brokered Private Placement issuing an additional 24,610,000 Units at a price of C$0.18 per Unit for gross proceeds of C$4,429,800 (see February 14, 2022 and May 4, 2022 news releases). The financing included Zangge’s strategic investment of $4,140,000. The Company has issued an aggregate of 27,777,778 units for gross proceeds of C$5 million.

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