Lithium Africa Closes Private Placement, Raising C$3.46 Million
Lithium Africa Resources Corp. has finalized a private placement offering, raising C$3.46 million. The funds will be used for exploration, project acquisition, and preparation for a Canadian stock exchange listing.
Lisbon, Portugal – July 7, 2025 – Lithium Africa Resources Corp. announced today the closing of its brokered and non-brokered private placement offering of units, which generated aggregate gross proceeds of C$3,455,088. The final tranche of the placement closed on July 4, 2025.
The offering priced units at C$28.00 each. Each unit comprised one common share, one common share purchase warrant, and one special warrant. The warrants entitle the holder to acquire an additional common share at C$37.00 until April 22, 2030. The special warrants entitle the holder to receive 0.15 additional common shares.
Notable participants in the placement included the company's largest shareholder, GFL International Co. Ltd., a subsidiary of Ganfeng Lithium, which maintained its 19% shareholding. Lithium Africa plans to utilize the proceeds for ongoing exploration and development of its asset portfolio, evaluation and acquisition of new projects, preparations for a planned listing on a Canadian stock exchange in Q3 2025, and general corporate working capital and investor relations.
The company is preparing for its anticipated public listing on a Canadian exchange in Q3 2025. Lithium Africa is not currently a reporting issuer in any Canadian province or territory, and there is no public market for its securities.