First Lithium Minerals Corp Completes Flow-Through Financing

Core Points - First Lithium Minerals Corp. has completed a flow-through financing for gross proceeds of $75,000 by issuing 937,500 flow-through shares at an issue price of $0.08 per share [1][2] - Insiders of the Company purchased 500,000 flow-through shares, which is classified as a related party transaction under CSE policies [3] - The Company is exploring lithium and alkali metals at its 100% owned Ascotan Project in Chile and is planning its inaugural drilling program [4] Financing Details - The financing raised a total of $75,000 through the issuance of 937,500 flow-through shares at $0.08 each [1] - Finders fees amounted to $2,450 in cash and 30,625 finders warrants, each exercisable into a common share at an exercise price of $0.08 for 18 months [2] Insider Participation - Insiders purchased 500,000 flow-through shares, which is considered a related party transaction [3] - The Company is relying on exemptions from formal valuation and minority shareholder approval requirements as the transaction does not exceed 25% of the Company's market capitalization [3] Company Overview - First Lithium Minerals is a Canadian mineral exploration and development company focused on lithium and alkali metals [4] - The Ascotan Project covers approximately 1,775 hectares in the Salar de Ascotan, Antofagasta Region, Chile, with identified priority exploration drill targets [4] - The Company is also exploring for gold and critical metals at its Lidstone project, which consists of 17,300 hectares in northwestern Ontario, Canada [4]