LithiumBank Announces Closing of Final Tranche of LIFE Private Placement

Core Points - LithiumBank Resources Corp. has successfully closed the second and final tranche of its non-brokered private placement, raising approximately $2.9 million, bringing total gross proceeds to about$4.9 million [1][5] Group 1: Offering Details - Each LIFE Unit consists of one common share and one-half of a common share purchase warrant, with each warrant allowing the purchase of one share at an exercise price of $0.50 for 36 months [2] - The LIFE Units were issued under the Listed Issuer Financing Exemption, making them immediately tradeable without a hold period under Canadian securities laws [3] Group 2: Finder's Fees and Warrants - The company paid a cash finder's fee of$7,595 to Red Cloud Securities Inc. and issued 21,700 finders' warrants, while also paying $26,464.90 to Leede Financial Inc. and issuing 75,614 finders' warrants [4] Group 3: Use of Proceeds - The net proceeds from the LIFE Offering will be used for brine hosted mineral license payments, environmental assessment studies, and community consultation [5] Group 4: Company Overview - LithiumBank Resources Corp. focuses on lithium exploration in Western Canada, holding 1,855,915 acres of lithium brine licenses across Alberta and Saskatchewan, and has licensed DLE technology from Go2Lithium [7]