Snow Lake Resources Ltd. announces the price of its initial public offering


WINNIPEG, MB /ACCESSWIRE/November 18, 2021/ Snow Lake Resources Ltd. (NASDAQ: LITM) (“Snow Lake” or the “Company”), a company committed to being the first fully renewable energy-powered electric mine that can deliver carbon-free battery-grade lithium, announced today today the price of its initial public offering of 3,200,000 common shares at a public offering price of $7.50 per share, for gross proceeds of US$24,000,000, before deducting underwriting discounts and ‘offer. In addition, the Company has granted the underwriters a 45-day option to purchase up to 480,000 additional common shares to cover excess allocations at the initial public offering price, less the subscription discount. All Common Shares are offered by the Company.

The Company intends to use the proceeds of the offering for resource development activities, including additional exploratory drilling, technical studies and reports, possible strategic project acquisitions, marketing and needs company generals.

Snow Lake common stock is expected to begin trading on the Nasdaq Capital Market on November 19, 2021 under the symbol “LITM”. The offering is expected to close on November 23, 2021, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole bookrunner for the offering.

A registration statement on Form F-1 (File No. 333-254755) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) effective November 18, 2021 and a statement of related record is pending filing pursuant to Rule 462(b) under the Securities Act of 1933, as amended. This offering is made solely by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected] The final prospectus will be filed with the SEC and will be available on the SEC’s website at

This press release does not constitute an offer to sell or a solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. prior to registration or qualification. under the securities laws of such state or territory.

About Snow Lake Resources Ltd.

Snow Lake Lithium (SLL) is committed to operating a fully renewable and sustainable lithium mine that can provide a fully traceable, carbon neutral and safe product for the electric vehicle and battery market. We not only aspire to set the standard for responsible lithium battery manufacturing, but we aim to be the first lithium producer in the world to achieve Certified B Corporation status in the process.

Forward-looking statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements in this press release can be identified by the use of words such as “anticipate”, “believe”, “intend”, “could”, “estimate”, “expect”, “have the ‘intent to’, ‘seek,’ ‘may’, ‘could’, ‘plan’, ‘potential’, ‘predict’, ‘project’, ‘target’, ‘aim’, ‘should’, ‘will’, ‘ would” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the current expectations of Snow Lake Resources Ltd. and are subject to uncertainties, inherent risks and assumptions that are difficult to predict and include statements regarding the intended use of proceeds and expected closing. In addition, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. These risks and uncertainties, as well as others, are described more e n detail in the section entitled “Risk Factors” of the final prospectus relating to the public offering filed with the Securities and Exchange Commission. The forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. assumes no obligation to update this information, except as required by applicable law.

[email protected]
Twitter: @SnowLakeLithium

THE SOURCE: Snow Lake Resources Ltd.

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