12:27 PM EDT, 07/18/2024 (MT Newswires) -- Lithium Ionic ( LTHCF ) on Thursday said it closed on the US$20-million sale of a 2.25% gross revenue royalty on its Bandeira Lithium Project in Brazil to Appian Capital Advisory.

The company said proceeds will be used to "advance the development and construction of its world-class Bandeira Lithium Project located within the Lithium Valley in Minas Gerais State, Brazil," and for working capital.

Lithium Ionic ( LTHCF ) shares wee last seen down $0.03 to $0.57 on the TSX Venture Exchange.

Price: 0.57, Change: -0.03, Percent Change: -5.00