LithiumBank Closes $2.25 Million Private Placement

Core Viewpoint - LithiumBank Resources Corp. has successfully closed a non-brokered private placement, raising gross proceeds of $2,250,462 through the issuance of 3,750,770 common shares at an issue price of $0.60 per share [1][2]. Group 1: Private Placement Details - The net proceeds from the private placement will primarily be used for working capital and general corporate purposes [2]. - The shares issued are subject to a four-month hold period from the closing date under Canadian securities laws, along with additional restrictions that may apply in other jurisdictions [2]. - Christopher Murray, a director of the company, participated in the private placement by purchasing 140,000 shares for $84,000, which represents approximately 3.7% of the total proceeds [4]. Group 2: Company Overview - LithiumBank Resources Corp. is focused on developing its two flagship projects, Boardwalk and Park Place, which host some of the largest lithium brine resources in North America [5]. - The company holds 1,240,140 acres of brown-field brine hosted mineral licenses across Alberta and Saskatchewan [5]. - LithiumBank has pilot tested multiple Direct Lithium Extraction (DLE) technologies and has signed a Development Agreement for the Boardwalk project, aiming for commercial lithium production using a modular scale-up approach [5].