Lithium Corporation Announces Non-Brokered Private Placement
Lithium Corporation (OTCBB: LTUM) (the 'Company', or Lithco) is pleased
to announce that it has closed a non-brokered private placement, and has
received $550,000 USD gross proceeds from the sale of 11,000,000 units.
Each Unit is comprised of one warrant and one common share, and each
warrant provides the subscriber the right to purchase one common share
of Lithium Corporation for $0.10 USD within one year, or $0.15 USD
within two years of the Closing date. Altura Mining Ltd., the sole
subscribers to this private placement will have the preferential right
to participate in any subsequent private placements.
Lithco intends to use the proceeds from this private placement for
continuing exploration on its lithium properties in Nevada, and on
generative efforts in the Great Basin and elsewhere.
The securities to be issued and sold in the private placement will
not be registered under the Securities Act of 1933 as amended (the
'Act?), and may not be offered or sold in the United States absent
registration, or an applicable exemption from registration, under the
Act.
For further information please contact Samantha White at (888) 299-3989
or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to
the exploration for new lithium resources within the state of Nevada.
The Company explores and develops potentially economic lithium-enriched
brine fields, with an eye to becoming a long-term producer of this
increasingly strategic and economically important commodity.
Notice Regarding Forward-Looking Statements
This current report contains 'forward-looking statements,' as that term
is defined in Section 27A of the United States Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Statements in
this press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future, including but not
limited to, the closing of the private placement with Altura, any
mineralization, exploration and development of our mineral properties,
or the properties held by Altura and any statements in regards to any
future drilling programs.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others,
the inherent uncertainties associated with mineral exploration and
difficulties associated with obtaining financing on acceptable terms. We
are not in control of minerals prices and these could vary to make
development uneconomic. These forward-looking statements are made as of
the date of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual results
could differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no
assurance that such beliefs, plans, expectations or intentions will
prove to be accurate. Investors should consult all of the information
set forth herein and should also refer to the risk factors disclosure
outlined in our most recent annual report for our last fiscal year, our
quarterly reports, and other periodic reports filed from time-to-time
with the Securities and Exchange Commission.
To view this press release as a webpage, please click on the
following link: http://www.fscwire.com/pr/lithiumcorpnov212012.htm
Lithium Corporation
Samantha White, 888-299-3989
info@lithiumcorporation.com
