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STLLR Gold Inc. — Capital/Financing Update 2021
Jan 22, 2021
43121_rns_2021-01-22_e09677f0-b3fa-47ab-8a21-62f8327a6752.pdf
Capital/Financing Update
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FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1. Name and Address of Company
Critical Elements Lithium Corporation (the “Company”) 1080 Cote du Beaver Hall, Suite 2101 Montreal, QC, Canada H2Z 1S8
Item 2. Date of Material Change
January 21, 2020
Item 3. News Release
The press release was issued and distributed on January 21, 2020 via Accesswire.
Item 4. Summary of Material Change
The Company announced a $10,000,000 bought deal private placement financing
Item 5. Full Description of Material Change
The Company announces that it has entered into an agreement with Paradigm Capital Inc. and Cantor Fitzgerald Canada Corporation (the “ Co-Lead Underwriters ”) on behalf of a syndicate of Underwriters (together with the Co-Lead Underwriters, the “ Underwriters ”) in connection with a bought deal private placement offering (the " Offering ") of 9,091,000 units (each, a " Unit ") of the Corporation to be issued at $1.10 per Unit (the “ Issue Price ”) for gross proceeds of $10,000,100.
Each Unit of the Corporation will consist of one common share in the capital of the Corporation (a " Common Share ") and one-half of one common share purchase warrant (each whole warrant a “ Warrant ”). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of $1.75 for a period of two years following the Closing Date.
In addition, the Underwriters have been granted an option to purchase up to 2,272,750 additional Units at the Issue Price.
The net proceeds from the Offering will be primarily used for exploration and development, and general working capital purposes.
The Offering is expected to close on or about February 11, 2021 (the “ Closing Date ”) and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange (the “ TSX-V ”). The securities issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering. The Offering is subject to final acceptance of the TSX-V.
Item 6. Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
N/A
| Item | 7. | Omitted Information |
|---|---|---|
| None | ||
| Item | 8. | Executive Officer |
| Jean-Sébastien Lavallée, CEO | ||
| (819) 354-5146 | ||
| [email protected] | ||
| Item | 9. | Date of Report |
| January 22, 2020 |