Li3 Energy, Inc., (OTCBB:LIEG) has agreed to the terms for the $10 million second tranche of funding with POSCO Canada Ltd. Upon closing, this completes the $18 million financial commitment made by POSCO in August 2011.
Li3 Energy, Inc., (OTCBB:LIEG) has agreed to the terms for the $10 million second tranche of funding with POSCO Canada Ltd. Upon closing, this completes the $18 million financial commitment made by POSCO in August 2011.
As quoted in the press release:
The key terms are contemplated to include:
- An investment to purchase $9.9 million of Units (with each Unit consisting of one share of common stock and a three-year warrant to purchase one share of common stock at an exercise price of $0.21) at a price of $0.16 per Unit;
- Li3 has agreed to reduced the strike price of the existing warrants issued to POSCAN from the initial $8 million investment (September 2011) from $0.40 to $0.21;
- In addition, Li3 will issue POSCAN warrants to purchase an aggregate of 5 million shares of common stock exercisable for a period of two years at an exercise price of $0.15 per share.
Click here to read the Li3 Energy, Inc. (OTCBB:LIEG) press release
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MARKETS
COMMODITIES
| Commodities | |||
|---|---|---|---|
| Gold | 1789.15 | +0.16 | |
| Silver | 20.35 | +0.08 | |
| Copper | 3.69 | -0.02 | |
| Palladium | 2274.50 | -1.50 | |
| Platinum | 959.00 | +4.00 | |
| Oil | 93.87 | -0.47 | |
| Heating Oil | 3.47 | -0.02 | |
| Natural Gas | 8.71 | -0.16 | |