Eureka Lithium Corp Announces LIFE Offering and Concurrent Private Placements

Core Viewpoint - Eureka Lithium Corp. is planning to raise up to $2,000,000 through a non-brokered private placement financing, issuing up to 4,761,904 units at a price of $0.42 per unit, which includes common shares and purchase warrants [1][3]. Group 1: Financing Details - The LIFE Offering will consist of units priced at $0.42, with each unit comprising one common share and one warrant [1]. - Each warrant allows the holder to purchase one common share at an exercise price of $0.45 for a period of 24 months [2]. - Concurrently, the company will offer additional units under two separate private placements, each aiming to raise up to $2,000,000 [3][4]. Group 2: Use of Proceeds - The net proceeds from the LIFE Offering and the Concurrent Offerings will be allocated for exploration expenses on properties in Quebec and British Columbia, as well as for general and administrative expenditures [6]. Group 3: Regulatory and Compliance - The securities issued will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with Canadian securities laws [5][8]. - The completion of the offerings is contingent upon receiving necessary regulatory approvals, including from the Canadian Securities Exchange [5][8]. Group 4: Company Assets - Eureka Lithium holds approximately 158 claims in the Raglan West, Raglan South, and New Leaf Lithium Camps in Quebec, and has a 100% interest in the Tyee Titanium-Vanadium Project [11]. - The company has an option to acquire a 100% interest in the Cabin Lake project, subject to a 2% net smelter returns royalty, contingent upon fulfilling certain obligations [10].