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Liberty One Lithium Corp set for C$5mln offering to advance Pocitos West

Mackie Research Capital will act as agent and will offer up to C$5mln worth of units
Liberty One Lithium Corp set for C$5mln offering to advance Pocitos West
The funds will be used mainly to further advance the Pocitos West project in Argentina

Liberty One Lithium Corp (CVE:LBY, OTCQB: LRTTF), the lithium explorer, is set to bring in C$5mln via an offering.

Mackie Research Capital will act as agent and will offer up to C$5mln worth of units of the company at C$1.20 each.

Shares are currently changing hands in Toronto at C$1.53 - up 2%.

The net funds from the offering will be used mainly to further advance the Pocitos West project in the Salta province, Argentina, and for working capital and general corporate purposes, the company said.

Each unit consists of a share and a warrant, with each warrant exercisable into one common share atC$1.50 for 24 months following the closing date of the offer.

There is also an over-allotment option, in which Mackie can offer for 30 days from the closing, an additional 15%of the number of units at the offering price.

Closing of the offering is expected to occur on or around December 22 this year.

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