representative work

Cassels Represents the Underwiters in Lithium X Energy Corp.’s $14.9 Million Bought Deal Financing

11/02/2017

On November 2, 2017, Lithium X Energy Corp. closed a bought deal public offering of 7,877,500 units at a price of $1.90 per unit, which included the exercise in full of an over-allotment option, for aggregate gross proceeds of $14.9 million. Each unit consists of one common share of Lithium X and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of $2.75 for a period of 36 months, subject to acceleration.

The offering was completed by a syndicate of underwriters co-led by Cormark Securities Inc., Canaccord Genuity Corp. and GMP Securities L.P.

Cassels acted for the underwriters with a deal team that included Chad Accursi, Alex Pizale, Jackson Phillips and Patricia Wood (Securities and Mining).