With the close of the second tranche, the Company has raised total gross proceeds of
Insiders of the Company purchased an aggregate of 25,000 Units in the private placement. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101') contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.
The private placement is subject to the approval of the Canadian Securities Exchange ('CSE) and all securities issued will be subject to a four-month hold period under securities laws. In addition, securities issued to subscribers in
ACME intends to use the proceeds of the placement to fund exploration expenditures in 2021 at its lithium projects in
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Email: info@acmelithium.com
This news release may contain forward-looking information within the meaning of applicable securities laws ('forward-looking statements'). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects,' 'plans,' 'anticipates,' 'believes,' 'intends,' 'estimates,' 'projects,' 'potential' and similar expressions, or that events or conditions 'will,' 'would,' 'may,' 'could' or 'should' occur and in this news release include but are not limited to the closing of the private placement, and the use of the net proceeds therefrom. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful, including any of the securities in
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