The Conversation (0)
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Consolidated Lithium Metals Inc. (TSXV: CLM,OTC:JORFF | FRA: Z36 | OTCQB: JORFF) ("CLM" or the "Company") is pleased to announce that, further to its press release on March 18, 2026, it has closed the second and final tranche (the "Final Tranche") of its previously announced non-brokered offering (the "Offering") of securities of the Company. Together with the first tranche of the Offering, the Company obtained gross proceeds of approximately $8,935,320.
In connection with the Final Tranche, the Company obtained aggregate gross proceeds of approximately $1,050,320 by issuing 10,940,830 flow-through shares of the Company (each, a "Critical FT Share") at a price of $0.096 per Critical FT Share. Each Critical FT Share consists of one common share of the Company (each, a "Common Share") that will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada).
Richard Quesnel, CLM's chief executive officer, commented, "We are pleased with the continued support from our shareholders, which reflects confidence in our strategy and our portfolio of critical mineral projects, including Kwyjibo, and positions the Company well to advance its objectives."
The Critical FT Shares issued pursuant to Canadian prospectus exemptions under National Instrument 45-106 – Prospectus Exemptions are subject to a statutory four-month hold period ending August 11, 2026, pursuant to applicable Canadian securities laws.
The Company paid an aggregate of approximately $84,025 and issued a total of 875,266 non-transferable finder warrants ("Finder Warrants") as finder's fees to certain persons who assisted the Company in connection with the Final Tranche, including Integrity Capital Group Inc. and Research Capital Corporation. The Finder Warrants were issued at an exercise price equal to $0.096 per Finder Warrant. Each Finder Warrant entitles the holder thereof to purchase one Common Share and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.12 until April 10, 2029. The Finder Warrants and Common Shares and Warrants issuable upon exercise of the Finder Warrants are subject to a statutory four-month hold period ending August 11, 2026, pursuant to applicable Canadian securities laws.
The Company intends to use the gross proceeds from the issuances of Critical FT Shares for exploration expenses and critical mineral mining expenditures on the Kwyjibo Rare Earth Project, as detailed in the Company's press release dated November 18, 2025, and its lithium properties.
The Offering remains subject to the final acceptance of the TSX Venture Exchange ("TSXV").
In addition, further to its press release on March 18, 2026, the Company announces a correction to certain fees paid in connection with the non-brokered private placement offering of securities of the Company. Capitalized terms used but not otherwise defined herein shall have the meaning ascribed thereto in the press release dated March 18, 2026.
The Company paid an aggregate of approximately $379,200.01 and issued a total of 4,344,998 Finder Warrants as finder's fees to certain persons, including Integrity Capital Group Inc., BT Global Growth Inc., Research Capital Corporation and PB Markets Inc., in consideration for introducing certain purchasers to the Company. 180,000 of the Finder Warrants were issued at an exercise price equal to $0.08 per Finder Warrant for Finder Warrants issued due to sales of LIFE Units, 1,874,998 of the Finder Warrants were issued at $0.096 per Finder Warrant for Finder Warrants issued due to sales of Critical FT Shares, and 2,290,000 of the Finder Warrants were issued at $0.12 per Finder Warrant for Finder Warrants issued due to sales of Charity FT Units. Each Finder Warrant entitles the holder thereof to purchase one Common Share and one-half of one Warrant. The Finder Warrants and Common Shares and Warrants issuable upon exercise of the Finder Warrants are subject to a statutory four-month hold period ending July 18, 2026, pursuant to applicable Canadian securities laws. In addition, the Company paid Integrity Capital Group Inc. an advisory fee of $150,000, plus applicable HST, and 1,875,000 advisory warrants ("Advisory Warrants") at an exercise price equal to $0.08 per Advisory Warrant. Each Advisory Warrant entitles the holder thereof to purchase one Common Share and one-half of one Warrant. The Advisory Warrants and Common Shares and Warrants issuable upon exercise of the Advisory Warrants are subject to a statutory four-month hold period ending July 18, 2026, pursuant to applicable Canadian securities laws.
U.S. Offering and No U.S. Registration
The securities described herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any U.S. state in which such offer, solicitation or sale would be unlawful.
About Consolidated Lithium Metals
CLM is a Canadian junior mining exploration company trading under the symbol "CLM" on the TSX Venture Exchange, "Z36" on the Frankfurt Stock Exchange and "JORFF" on the OTCQB® Venture Market. The Company is focused on the exploration and development of critical mineral projects in stable jurisdictions. The Company is committed to supporting the energy transition through the responsible development of critical mineral supply chains.
Additional information on CLM can be found on its website at: www.consolidatedlithium.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
For Further Information, Contact:
Rene Bharti
Vice President Corp. Dev.
Email: info@consolidatedlithium.com
Phone: +1 (647) 965 2173
Website: www.consolidatedlithium.com
Advisors: Wildeboer Dellelce LLP is acting as legal counsel for CLM in respect of the Offering. CLM has engaged Integrity Capital Group Inc., BT Global Growth Inc., Independent Trading Group (ITG), Inc. and Kernaghan & Partners Ltd. to support its efforts. For further information, contact Jeremy Rogers at jrogers@integritycapitalgrp.com or 647-998-4212.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the Offering, including regulatory and TSXV approvals and the anticipated use of proceeds, and the Company's anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CLM to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including risks related to: regulatory approvals, such as final approval of the TSXV of the Offering; general business, economic, competitive, political, social, and market conditions; accidents, labour disputes and shortages; and other risks of the mining industry. Forward-looking statements contained herein are made as of the date of this press release and CLM disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
