on NOA Lithium Brines Inc. (isin : CA6393571022)
NOA Lithium Secures $13.5 Million Investment and New Strategic Partner
NOA Lithium Brines Inc. has closed a strategic private placement with Clean Elements Ltd. The transaction, valued at $13.5 million, involved the issuance of 79,411,764 units priced at $0.17 each. Each unit includes one common share and a purchase warrant, exercisable at $0.221 per share over 30 months. This deal positions Clean Elements to own up to 39.9% of NOA's shares on a fully-diluted basis.
Clean Elements is focused on developing lithium assets, partnering with ISP Securities Ltd. to structure this strategic investment. Gabriel Rubacha, NOA's CEO, emphasized the alignment of both companies in advancing the Rio Grande project. Clean Element's Chairman, Ofer Amir, expressed confidence in NOA's management and potential.
The investment will fund property payments and project exploration. As part of the deal, Clean Elements gains rights to influence board composition based on share ownership percentages.
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