Standard Lithium (TSX.V: SLL) (OTCQX: STLHF) (FRA: S5L) on Tuesday announced that, owing to very strong interest, it will increase the size of its non-brokered private placement of special warrants (each, a “Special Warrant”) to accommodate the additional demand. According to the update, the Company now intends to offer up to 12,000,000 Special Warrants, each at a price of $0.75, for gross proceeds of up to $9,000,000. Standard Lithium intends to use net proceeds from the private placement to complete commissioning of its extraction demonstration plant in southern Arkansas, as well as to maintain existing property interests and for general working capital purposes.
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About Standard Lithium Ltd.
Standard Lithium is a specialty chemical company focused on unlocking the value of existing large-scale US based lithium-brine resources. The Company believes new lithium production can be brought on stream rapidly by minimizing project risks at selection stage (resource, political, geographic, regulatory, and permitting), and by leveraging advances in lithium extraction technologies and processes. The Company’s flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations utilizing the Company’s proprietary selective extraction technology. The Company is also pursuing the resource development of 27,000 acres of separate brine leases located in southwestern Arkansas and approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino County, California. For more information, visit the company’s website at www.StandardLithium.com.
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