Vancouver, British Columbia, Canada (August 26, 2020) – Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) is pleased to announce that it has arranged a non-brokered private placement of units of the company at a price of $0.06 per unit for aggregate proceeds of up to $540,000 (the “Private Placement”), in accordance with price protection filed on the Canadian Securities Exchange on July 24th 2020. Each unit is comprised of one common share in the Company (a “Common Share”) and one warrant exercisable into one Common Share at an exercise price of $0.10 per Common Share for the first year and $0.15 for the second year from the date of issuance.
The Company will close the financing during the week of Sept 1st, 2020. All securities issued under this Private Placement will be subject to a hold period of four months and one day from the date on which the units are issued.
The Company intends to use the proceeds of the Private Placement for general working capital. The Company may pay finders fees under the Private Placement within the amounts permitted by applicable securities laws and CSE policies.
Management of Li-Ion is not aware of any material facts or material changes with respect to the Company that have not been generally disclosed.
About Global Li-Ion
Global Li-Ion Graphite is an exploration and development Company focused on the acquisition and development of Graphite projects with an intent to supply the rapidly growing energy storage industry. Each Li-Ion Battery requires Graphite, Lithium, Cobalt and nickel. The company’s Chedic Graphite project near Carson City Nevada is only a few miles from Tesla’s newly built and commissioned Giga Factory. Global Li-Ion Graphite is actively evaluating additional projects for acquisition to build a world class Graphite supply Company.
Further information about Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and the Company’s website, www.globalli-iongraphite.com.