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Eureka Lithium Corp. Announces New Private Placement Financing

Vancouver, British Columbia — November 29, 2024

Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580), hereafter referred to as “Eureka Lithium,” “Eureka,” or the “Company,” is taking significant steps to bolster its financial resources through the announcement of a non-brokered private placement financing (the “Offering”). This Offering will comprise up to 2,666,666 units of the Company (each known as a “Unit”), with each Unit being offered at a price of $0.15 each. This venture aims to generate aggregate gross proceeds amounting to a maximum of up to $400,000.

Structure of the Units

Each Unit in the Offering will consist of one common share of the Company (referred to as a “Share”) along with one share purchase warrant (known as a “Warrant”). The unique feature of each Warrant is that it grants the holder the option to purchase an additional Share at an exercise price of $0.205 per share for a duration of 24 months from the date of issuance. This structure not only incentivizes initial investment but also encourages further investment over time through the warrant feature.

Anticipated Closing and Proceeds Utilization

The closing of this Offering is projected to occur around the week of December 9, 2024. However, it is important to note that closing is contingent upon fulfilling specific conditions, which include obtaining all necessary regulatory and other approvals. The net proceeds generated from the Offering are earmarked for advancing Canadian exploration projects on the Company’s Nunavik properties, in addition to meeting general corporate and working capital needs. It’s also important to mention that finders’ fees might be allocated to qualified arm’s length individuals concerning particular subscriptions accepted by the Company.

Compliance and Regulatory Framework

The Units available through this Offering will be made accessible to purchasers in specific provinces of Canada (excluding Quebec) in accordance with National Instrument 45-106 – Prospectus Exemptions (referred to as “NI 45-106”). This offering will utilize the listed issuer financing exemption under Part 5A.2 of NI 45-106 (the “LIFE Exemption”). Notably, according to NI 45-106, Canadian resident subscribers receiving securities through this Offering will not encounter resale restrictions.

Access to Offering Documents

For potential investors interested in the Offering, there exists an offering document dated November 29, 2024, which can be accessed through the Company’s profile at www.sedarplus.ca and on Eureka Lithium’s official website at www.eurekalithiumcorp.com. It is strongly recommended that prospective investors thoroughly read this offering document prior to making any investment decisions to ensure they are fully aware of the terms and conditions outlined.

Important legal Considerations

It’s crucial to clarify that the securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 or any U.S. state securities laws. Thus, these securities may not be offered or sold within the United States unless there is an exception or registration available. This press release does not serve as a solicitation for the sale or an offer to purchase any securities within the United States or any jurisdiction where such activities would be illegal.

About Eureka Lithium Corp.

Eureka Lithium maintains a robust position in the lithium market as the largest lithium-focused landowner in Quebec’s northern third, specifically in the Nunavik region. The Company holds 100% ownership of three key projects covering 1,408 square kilometers in promising areas like the Raglan West, Raglan South, and New Leaf Lithium Camps. These projects were acquired from renowned prospector Shawn Ryan and are strategically located near two functioning nickel mines that provide deep-sea port access.

The Role of AI legalese decoder

Investors and participants in the Offering may find navigating the legal intricacies of securities offerings complex. This is where the AI legalese decoder can be beneficial. By deploying advanced natural language processing capabilities, the AI legalese decoder can break down complex legal jargon into straightforward, understandable terms. This tool will enable potential investors to grasp essential details about the Offering, including their rights and obligations, without getting overwhelmed by typical legal language. By leveraging this technology, stakeholders can make more informed decisions with clarity and confidence.

For More Information:

For additional inquiries, please reach out to:

David Bowen
Chief Executive Officer
Email: [email protected]

Cautionary Statement

Prospective investors should proceed with caution. Certain statements made in this announcement include terms such as “expects,” “intends,” “anticipates,” and similar phrasing. These represent forward-looking information as defined under relevant securities laws and are subject to numerous known and unknown uncertainties, which could lead to actual outcomes differing significantly from those anticipated. Thus, readers are encouraged to not place undue reliance on these forward-looking statements, considering the numerous factors that might influence actual results.

Regulatory Notice

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

Not for Distribution in the United States

To view the source version of this press release, please visit NewsFile.

Investing in the Offering could present a promising opportunity for stakeholders to engage with Eureka Lithium Corp., particularly as the company advances its exploration endeavors in one of the most strategic lithium markets in North America.

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