Life Announces C$2.5M and $3M Placements with Warrants
LIFE•Life plans a C$2.5 million non-brokered placement of 2.33 million non-flow-through and 3.49 million flow-through units at C$0.43 each, each with warrants exercisable at C$0.70 for 12 months. It also launched a brokered $3 million offering of 10.71 million units at $0.28 apiece, including half-warrants exercisable at $0.38 for three years.
1. Non-Brokered Private Placement Details
Life will raise up to C$2.5 million through a non-brokered private placement under the listed issuer financing exemption. The placement comprises 2,325,581 non-flow-through units and 3,488,372 flow-through units at C$0.43 each, with each non-flow-through unit including one common share and one warrant exercisable at C$0.70 for 12 months.
2. Brokered Placement Led by Centurion One Capital
A concurrent brokered offering will issue up to 10,714,286 units at $0.28 apiece, with each unit consisting of one share and half a warrant. Warrants may be exercised at $0.38 over three years, and the lead agent may increase the offering by 2,142,857 units for an additional $600,000.
3. Potential Impact and Use of Proceeds
Both financings are expected to close once subscription conditions are satisfied, potentially diluting existing shareholders. Net proceeds will support exploration programs, working capital needs and general corporate purposes while extending the warrant exercise periods to 12 months and three years respectively.
