Summary by Moomoo AI
Snow Lake Resources Ltd. announced the pricing of a public offering of 18,750,000 common shares at $0.80 per share, aiming to raise approximately $15 million in gross proceeds. The offering is expected to close on December 31, 2024, subject to customary conditions.The company intends to use the net proceeds primarily for working capital and general corporate purposes. ThinkEquity is acting as the sole placement agent for the offering, which is being conducted under a shelf registration statement filed with the SEC.Snow Lake Resources, trading as Snow Lake Energy on NASDAQ under the ticker LITM, is a Canadian clean energy exploration company. It focuses on advancing two uranium projects to supply raw materials for clean energy transition, while limiting exploration activities on its lithium projects due to current market conditions.
