Lithium Africa raises C$5 million in unit private placement

Lithium Africa Corp., a mineral exploration company, announced on March 2, 2026, that it has arranged a private placement of units to raise C$5 million. The company plans to issue 2.5 million units at a price of C$2.00 per unit.

Each unit consists of one common share and one-half of a common share purchase warrant. Each warrant will allow the holder to purchase a common share for C$2.80 within three years of the closing date of the offering.

The company intends to use the proceeds from this offering as partial consideration for the acquisition of the Springbok Project. Remaining funds will support working capital and general corporate activities. Further details regarding the Springbok Project and its acquisition terms were disclosed in a press release on February 25, 2026.

The private placement is expected to close on or about March 18, 2026, subject to regulatory approvals. The offering complies with exemptions from prospectus requirements in Canada and other applicable jurisdictions.