VANCOUVER, BC / ACCESSWIRE / January 20, 2020 / Infinite Lithium Corp. ("ILI" or the "Company") (TSXV:ILI)(OTCQB:ARXRF) announces that further to its press release dated January 15th announcing a non-brokered private placement of up to 8.4 million units ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $504,000.00 that due to overwhelming demand it is arranging to increase the financing to up to 20 million units for aggregate gross proceeds of $1,200,000 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one-half of one transferable Share purchase warrant of the Company ("Warrant"). Each full Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.10 per share.
Proceeds from the financing will be used for drilling and prospecting on the Company's 3 newly acquired properties located in the Red Lake Mining District in Ontario, (see news releases dated December 2nd, 4th & 12th, 2019) as well as for general working capital and unallocated funds as per Tier 2 status requirement.
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
The offering is subject to TSX Venture Exchange acceptance.
About Infinite Lithium Corp.
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral exploration projects globally for the benefit of its shareholders.
ON BEHALF OF THE BOARD
"John Masters"
John Masters, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Infinite Lithium Corp.
View source version on accesswire.com:
https://www.accesswire.com/573630/Infinite-Clarifies-and-Increases-Private-Placement-Financing
