Eureka Lithium Corp. reports on critical minerals exploration projects in Canada, including the Cabin Lake polymetallic silver-lead-zinc-gold project in British Columbia and the Tyee Titanium-Vanadium project in Quebec. Company updates include technical reporting under NI 43-101, exploration portfolio changes, and mineral-claim disclosure for the Nunavik project areas.
Recurring news also covers Eureka's capital structure and governance, including LIFE offering and private placement financings, warrant and share issuances, debt settlements, leadership appointments, material change reporting, and securities-regulator disclosure clarifications.
Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) has amended the terms of warrants for its non-brokered private placement LIFE financing. The offering aims to raise up to $1,250,000 by issuing 8,333,333 units at $0.15 per unit. The warrants will now only be exercisable if shareholders approve or if exercise doesn't exceed 100% of current outstanding shares. Closing is expected around September 23, 2024, subject to regulatory approvals. Proceeds will fund Quebec mineral exploration and corporate purposes. The offering is available to Canadian residents (except Quebec) under NI 45-106, with no resale restrictions. An amended offering document is available on SEDAR+ and Eureka's website.
Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) has completed an extensive exploration program at its New Leaf project in Nunavik, Quebec. The program included 576 till samples, 404 rock samples, and 153 lake sediment samples. Notably, large, zoned pegmatitic outcrops were discovered in the Leaf River West and SR Leaf River West properties, containing minerals such as garnet, tourmaline, and muscovite. These pegmatites are part of a regional NW/SE trending swarm. The company is now moving to conduct similar fieldwork at the Raglan West and Raglan South projects. Eureka emphasizes the importance of Inuit consultation in their exploration efforts, having engaged with local communities to plan their programs.
Eureka Lithium Corp (CSE: ERKA) (OTCQB: UREKF) announces a non-brokered private placement LIFE financing of up to 8,333,333 units at $0.15 per unit, aiming to raise up to $1,250,000. Each unit includes one common share and one warrant, exercisable at $0.205 for 24 months. The offering is expected to close around August 31, 2024, subject to regulatory approvals. Proceeds will be used to advance the company's Quebec mineral exploration assets and for general corporate purposes. The offering will be available to Canadian residents (except Quebec) under the listed issuer financing exemption, with no resale restrictions for Canadian subscribers. An offering document dated August 14, 2024, is available on SEDAR+ and the company's website.
Eureka Lithium Corp has completed a 10:1 consolidation of its common shares, effective June 19, 2024. The company's shares will now trade on a consolidated basis with one new share for every ten old shares. This move results in 5,175,462 common shares outstanding, with fractional shares adjusted accordingly. The company's name and trading symbol remain unchanged, though a new CUSIP number, 298596206, has been issued. Convertible instruments have been proportionately adjusted. Shareholders will receive instructions on exchanging existing certificates. More details are available in a corporate video and presentation on the company's website.
Eureka Lithium has announced a 10:1 share consolidation, reducing its outstanding common shares to approximately 5,175,459 post-consolidation shares. The record date for this corporate action is June 19, 2024, with trading on a consolidated basis expected to start shortly thereafter on the Canadian Securities Exchange (CSE). The company aims to improve its share structure to attract capital financing and growth opportunities. No fractional shares will be issued; they will be rounded up to the next whole share instead. The share consolidation awaits approval from the CSE. The company name and trading symbols will remain unchanged.
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