Standard Lithium Receives Orders of $6.5 Million for Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, June 14, 2017 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. ("Standard Lithium" or the "Company") (TSXV:SLL) (FRA:S5L) is pleased to announce that it has received subscriptions for 8,666,667 common shares for a non-brokered private placement to be completed at a price of $0.75 per share. Initial interest in the placement strongly exceeded expectations and allotments by the Company, and subscriptions were received from a number of institutional and strategic investors.
"We are very encouraged by the interest in the private placement and the confidence shown in Standard Lithium" stated Robert Mintak, Chief Executive Officer of Standard Lithium, "We view this as a strong validation of our business model and our plan for future growth. With this round of funding, we will be in a position to devote significant resources toward advancing our current projects and pursuing acquisition opportunities as we remain extremely optimistic with the future prospects of the lithium market."
Completion of the private placement remains subject to the approval of the TSX Venture Exchange. All securities to be issued in the private placement will be subject to a four-month-and-one-day statutory hold period. The Company intends to pay a commission to certain eligible individuals who have introduced subscribers to the private placement.
As a result of the strong demand for the placement, the Company intends to accept additional subscriptions and completion of the placement is expected to occur shortly. For further information, interested parties should contact Anthony Alvaro at 604.260.4793.
About Standard Lithium
Standard's value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic brine resources, led by an innovation & results oriented management team with a strong focus on technical skills. The Company is currently focused on the exploration of its 16,000+ acre Bristol Lake, Brine Project located in the Mojave region of San Bernardino County, California. The location has significant infrastructure in-place, with easy road and rail access, abundant electricity and water sources, and is already permitted for extensive brine extraction and processing activities. Standard also recently announced the acquisition of the 40,000+ acre Paradox Basin Project located in Grand County, Utah.
On behalf of the Board,
Standard Lithium Ltd.
Anthony Alvaro, Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Standard Lithium Ltd. via Globenewswire
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