November 22, 2017 / TheNewswire / Vancouver, British Columbia; - LiCo Energy Metals Inc. ("the Company" or "LiCo") TSX-V: LIC, OTCQB: WCTXF is pleased to provide an update on its non-brokered private placement offering of up to $960,000 previously announced on October 24, 2017. The private placement details and subscription agreements will now be available to investors on the Stockhouse Deal Room (Stockhouse Deal Room).
The private placement consists of up to 8,000,000 flow-through units ("FT Units") and up to 4,000,000 non flow-through units ("Units") both at a price of $0.08 per FT Unit and $0.08 per Unit. Each FT Unit and Unit is comprised of one common share of the Company and one share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.10 per share, for a period of two years from closing, subject to TSX Venture Exchange ("Exchange") approval.
The Company also announces that in the previous two weeks, it has received total funds of $600,000 by way of exercise of 8,000,000 share purchase warrants at $0.075 per share.
The Stockhouse Deal Room is an equity investment platform created specifically for public companies to access investors. Stockhouse has more than 1 million unique visitors a month and provides access to a large number of qualified and accredited investors. The private placement offering of FT Units and Units is available at the Stockhouse Deal Room and LiCo Energy Metals Private Placement. Subscription agreements can be completed in full through the Stockhouse Deal Room or are available directly from the Company to Accredited Investors. The minimum subscription is $5,000 and the Company intends to close all subscriptions by November 30, 2017.
Finder's fees will be paid in connection with the private placement and all finder's fee payable are subject to Exchange approval.
The proceeds from the FT Units will be used to advance the Company's Teledyne and Glencore Bucke Properties, in Cobalt Ontario. The proceeds from the Units will be used for advancement and development of the Company's other mineral exploration projects and for general working capital purposes.
All securities issued in connection with the private placement are subject to a four month and a day hold period in accordance with applicable Securities Laws.
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's focus is directed towards exploration for high value metals integral to the manufacture of lithium ion batteries.
