07:52 AM EDT, 07/23/2026 (MT Newswires) -- First Lithium Minerals ( FLMCF ) closed the first tranche of its non-brokered private placement financing which consisted of the issuance of 8.9-million NFT units at C$0.11 per NFT unit, and 975,000 FT units at C$0.15 per FT unit, it said late Wednesday.

Each NFT unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to buy a share for C$0.18 for a three-year period from the closing date. Each FT unit is comprised of one common share that qualifies as a "flow-through share," and one-half of one warrant, it said.

The company concurrently closed a private placement of up to 6-million units (PP units) at C$0.11 per PP unit for C$660,548. Each PP unit consists of one common share and one-half of one common share purchase warrant, with each PP warrant exercisable to buy a share for C$0.18 for a three-year period.

Shares of the company closed up 5.3% to C$0.10 on Wednesday on the Canadian Securities Exchange.