Southern Lithium Corp. Announces Closing of Second and Final Tranche of Private Placement

January 5, 2017, Vancouver, B.C. – Southern Lithium Corp. (the “Company”) (TSX-V: SNL) announces that further to its news releases dated November 1, 2016 and December 9, 2016, it has completed the second and final tranche of its non-brokered private placement of 48,000 units (“Units”) at a price of $0.25 per Unit for aggregate gross proceeds of $12,000 (the “Offering”).
Each Unit consists of one common share (a “Share”) and one Share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at an exercise price of $0.35 per Warrant Share for a period of 18 months from the date of issuance until June 21, 2018; however, if the closing sales price of the Company’s Shares (or the closing bid, if no sales were reported on a trading day) as quoted on the TSX Venture Exchange (“TSXV”) (or such other securities exchange, quotation system or market on which such common shares are listed and where a majority of the trading volume of such common shares occurs) is $0.50 or greater for a period of ten (10) consecutive trading days, the Company may, within five days of such event, provide notice by way of press release to the subscribers of early expiry, and thereafter the Warrants shall expire on that date which is thirty (30) days from the date such notice is given (the “Acceleration Clause”).
In connection with the first and second tranche of the Offering, the Company paid additional finders fees of a total of $33,200 in cash and issued 132,800 finder’s warrants (“Finder’s Warrants”) in accordance with the policies of the TSXV. Each Finder’s Warrant is convertible into one Share (a “Finder’s Warrant Share”) at a price of $0.35 per Finder’s Warrant Share for a period of 18 months from the date of issuance until June 21, 2018, subject to the Acceleration Clause.
All securities issued pursuant to the Offering are subject to a hold period expiring on April 22, 2017. The proceeds raised will be used to further develop the Scotch Creek project, repay indebtedness and for general working capital.
For more information, contact the Company at +1 (416) 918-6785.

On behalf of the Board of Directors of SIGNAL EXPLORATION INC.


David Alexander
Chief Financial Officer

Further information about the Company is available on our website at or under our profile on SEDAR at

Investor and Public Relations Contact
Signal Exploration Inc.
Sam Eskandari
Telephone: +1.416.918.6785
Email:   Website:

2017-12-25T06:36:48+00:00 January 5th, 2017|Categories: Press Release|0 Comments

The scientific and technical information disclosed on this website has been reviewed and approved by Larry Segerstrom, M.Sc. (Geology), P.Geo., a Director of the Company, who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).