Discovery Lithium Completes Private Placement Financing

Discovery Lithium Inc., a Canadian exploration firm, has successfully closed its non-brokered private placement. The company raised $550,014.79 by issuing 10,000,249 units at $0.055 each. Each unit consists of one common share and a purchase warrant allowing the acquisition of a share at $0.10 within 24 months. The funds are allocated for exploration and working capital. Additionally, a statutory hold period of four months and a day applies to all securities issued in this offering.

The company also announces the appointment of Nate Schmidt to its board of directors, bringing over 12 years of exploration experience, particularly in lithium exploration. Concurrently, Jaap Verbaas has resigned from his directorship.

These updates reflect Discovery Lithium's strategy to enhance its board with experienced personnel while securing capital for ongoing exploration efforts.