TODAY’S NEWSBearing Announces Upsize of Private Placement Financing
Bearing Lithium Corp. (the “Company” or “Bearing“) is pleased to announce that due to strong investor demand, the Company has increased the size of its previously announced private placement (the “Private Placement“). The Company will now issue up to an aggregate of 16,000,000 common shares of the Company (the “Shares“) at a price of $0.25 per Share for gross proceeds of up to $4,000,000.
Mr Gil Playford, Chairman and CEO, comments “we are delighted with the strong response from existing and new shareholders to participate in this Private Placement and we expect to complete the closing in the coming weeks.”
Other than the increase in the size of the Private Placement, all other terms and conditions of the Private Placement remain unchanged, as described in the press release dated February 10, 2022. All securities issued in connection with the PrivatePlacement will be subject to a four-month and one day statutory hold period under securities laws. The Private Placement remains subject to the approval of the TSX Venture Exchange.
ABOUT BEARING LITHIUM CORP.
Bearing Lithium Corp (BRZ) is a pure-play lithium company focused on the development of Chile’s next high-grade lithium mine. The Maricunga JV, in which Bearing holds a 17.14% interest, is the highest quality pre-production lithium brine project in South America and has one of the world’s highest-grade lithium resources at 1,167 mg/l lithium and 8,500 mg/l potassium. The September 2021 NI 43-101 compliant resource estimate for the deposit totals 2.9 Mt LCE now all classified as Measured and Indicated. Over $US 67 million has been invested in the Maricunga Project to date.
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