NOA Lithium Brines Completes $1.1 Million Second Tranche of Private Placement

NOA Lithium Brines Inc. (TSXV:NOAL) announced the closing of the second tranche of its $2.7 million non-brokered private placement. This tranche saw the issuance of 6,622,560 units, priced at $0.17 each, raising $1,125,835. Each unit comprises one common share and one warrant, with the latter exercisable at $0.221 for 30 months.

CEO Gabriel Rubacha noted the investor interest as validation of the company’s potential, eyeing 2025 goals, notably a preliminary economic assessment for the Rio Grande project. Proceeds will fund property payments, project exploration, and general corporate needs.

The placement is under a four-month hold period, awaiting final TSX Venture Exchange approval. The securities are not registered under U.S. law and are not offered in the U.S.