On February 2, 2022 Noram Lithium Corp. closed a US$14 million strategic financing with Lithium Royalty Corp. and Waratah Capital Advisors Ltd.
Noram entered into a royalty agreement with Lithium Royalty for the sale of a 1.0% gross overriding royalty of Noram’s high-grade Zeus Lithium Project in Clayton Valley, Nevada for total compensation of US$5 million. Concurrent to the royalty agreement, Noram closed a private placement of 13,986,011 shares at a price of $0.825 per share for gross proceeds of US$9 million.
Cassels acted for Noram.