On February 11, 2021, Critical Elements Lithium Corporation closed a bought deal private placement of 13,636,400 units at a price of $1.10 per unit for aggregate gross proceeds of approximately $15 million. Each unit was comprised of one common share of Critical Elements and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of $1.75 for a period of 24 months following the closing of the offering.
The offering was co-led by Paradigm Capital Inc. and Cantor Fitzgerald Canada Corporation on behalf of a syndicate of underwriters including Stifel GMP and Raymond James Ltd.
Cassels acted for the underwriters.