Lithium Africa Corp. Upsizes Private Placement to C$8.5 Million

Lithium Africa Corp. announced on March 5, 2026, that it has increased the size of its previously announced private placement to C$8.5 million. The company cited strong investor demand as the reason for upsizing the offering from C$5.0 million.

Purpose Global Resource Fund has committed to a lead order of approximately C$3.3 million. The private placement will consist of the issuance of 4,250,000 units at C$2.00 per unit. Each unit comprises one common share and one-half of a common share purchase warrant. The warrants will allow holders to purchase an additional common share at C$2.80 for three years.

The company's agent, ATB Cormark Capital Markets, also has an option to purchase an additional 750,000 units, which could raise a further C$1.5 million. The agent will receive a 7.0% commission and broker warrants.

Proceeds from the placement will be used as partial consideration for the acquisition of the Springbok Project, as well as for working capital and general corporate purposes. The offering is expected to close on or about March 18, 2026, subject to regulatory approvals.