07:19 AM EDT, 09/18/2025 (MT Newswires) -- Lithium Chile ( LTMCF ) overnight Wednesday said it agreed with Canaccord Genuity, as lead agent and sole bookrunner, on a best efforts private placement offering for gross proceeds of up to C$5 million.

The offering consists of up to 10 million units of the company at a price of $0.50 each.

The company also granted the agents an option, exercisable in whole or in part at any time prior to the closing of the offering, to arrange for the sale of up to an additional 1.5 million units at the offering price, for additional gross proceeds of up to $750,000.

Each unit will include one share and one five-year warrant to buy a share in the capital of the company at $0.70 each.

The company will use the net proceeds of the offering to advance its existing mineral properties in Argentina and Chile, for general and administrative expenses, and working capital purposes.

The offering is expected to close on or about October 7, subject to the company receiving all necessary regulatory approvals.