TORONTO, March 05, 2026 (GLOBE NEWSWIRE) -- Consolidated Lithium Metals Inc. (TSXV:CLM, FRA: Z36, OTCQB:JORFF) ("CLM" or the "Company") announces today that, further to its news release dated February 26, 2026, the Company is amending the terms of its previously announced non-brokered private placement offering of securities of the Company (the "Offering"). The Offering, as amended, will provide for aggregate gross proceeds to the Company of up to $18,070,000, in a combination of:
up to 31,250,000 units of the Company that will be issued pursuant to the Listed Issuer Financing Exemption (as defined herein) and other available exemptions from Canadian prospectus requirements as further described herein (each, a "LIFE Unit") at a price of $0.08 per LIFE Unit for up to $2,500,000 in gross proceeds. Each LIFE Unit will consist of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant");
up to 62,500,000 flow-through shares of the Company (each, a "Critical FT Share") at a price of $0.096 per Critical FT Share for up to $6,000,000 in gross proceeds. Each Critical FT Share will consist of one Common Share that will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"); and
up to 79,750,000 flow-through units of the Company that will be issued as part of a charity arrangement (each, a "Charity FT Unit" and collectively, with the LIFE Units and Critical FT Shares, the "Offered Securities") at price of $0.12 per Charity FT Unit, and will be issued pursuant to the Listed Issuer Financing Exemption and other available exemptions from Canadian prospectus requirements as further described herein, for up to $9,570,000 in gross proceeds. Each Charity FT Unit will consist of one Common Share and one-half of one Warrant that will each qualify as a "flow-through share" within the meaning of subsection 66(15) of the Tax Act.
Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.12 for a period of 36 months from the closing date of the Offering. Warrants sold pursuant to the Listed Issuer Financing Exemption will not be exercisable until 60 days from the closing date of the Offering.
The Offering is expected to close on or about March 17, 2026, or such other date or dates as the Company may determine.
Pursuant to the amended terms of the Offering, the Company has filed an amended and restated offering document relating to securities of the Offering to be issued pursuant to the Listed Issuer Financing Exemption that is accessible under the Company's ...
