Micro Cap Lithium Company Announces Private Placement
November 24, 2020 at 04:12 AM EST
Tuesday, November 24, 2020 Micro Cap Lithium Company Announces Private Placement Private placements can sometimes be rather confusing, but what we think is important to focus on is whether or not the event better aligns insiders’ interests with the shareholders’. In the case of Bearing Lithium Corp. (OTCQB:BLILF), traders are convinced that the placement is in line with the best interests of shareholders. According to the release, the Vancouver-based lithium company announced a "non-brokered private placement of 6,094,960 units of the Company at a price of $0.129 per Unit for gross proceeds of $786,249.89. Each Unit shall consist of one common share and one transferable Share purchase warrant. Each Warrant shall entitle the holder thereof to purchase one additional Share at a price of $0.1725 per Share for a period of 36 months from the date of issuance." As mentioned earlier, traders seemed to support the terms of this private placement as shares traded up to $0.1587/share (+16.69%) following the news. This move is a strong continuation of the success the stock has had in the last few months.