Discovery Lithium Announces $1 Million Private Placement

Discovery Lithium Inc., a Canadian exploration company, has announced plans for a non-brokered private placement. The offering proposes up to 10 million units at $0.10 per unit, aiming to raise total gross proceeds of $1 million. Each unit will include one common share and one transferable warrant, with warrants exercisable at $0.15 for 24 months.

Funds from the offering will support general working capital and property exploration. The completion of the offering is contingent upon regulatory approvals, and there may be finder's fees involved. All issued securities will have a statutory hold period of four months and one day.

This move aligns with the company's strategy to enhance domestic energy through regional lithium discoveries. Discovery Lithium holds significant claims in Northern Quebec and Northwestern Ontario, focusing on mineral resource projects.