Lithic Appoints New Directors and Closes $750,000 Private Placement

Lithic Resources Ltd. (TSXV:LTH) announced that it appointed Wayne Hubert and Kerry Curtis to the board of directors. The Company also announced that it closed the non-brokered private placement, that consisted of 15 million common shares at a price of 5 cents per share for gross proceeds of $750,000.

As quoted in the press release:

The majority of the placement was taken by Geologic Resource Partners LLP (“GRP”) which became a new insider of the Company and retains the right for a period of 18 months to participate in subsequent private placements in order to maintain its then current interest in the Company up to a maximum interest of 19.9% in the Company.

Click here to read the Lithic Resources Ltd. (TSXV:LTH) press release