LibertyStream raises $12.5 million through private placement offering

LibertyStream Infrastructure Partners Inc. (TSXV: LIB) completed a private placement offering that raised gross proceeds of $12,499,999.60 through the issuance of 11,363,636 units at $1.10 per unit.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional common shares at $1.50 per share within 36 months of the offering completion.

The company completed the offering using the listed issuer financing exemption under Canadian securities regulations. Securities issued under this exemption are not subject to a hold period under Canadian securities laws.

LibertyStream plans to use the net proceeds to develop its direct lithium extraction technology, scale up lithium carbonate production at its field unit in the Permian Basin in Texas, provide product samples to potential customers, and fund general working capital needs.

Company insiders participated in the offering, which constituted a related party transaction. The company relied on exemptions from valuation and minority shareholder approval requirements because the value of shares purchased by insiders did not exceed 25% of the company's market capitalization.

The securities were offered to accredited investors in the United States through a private placement exemption and have not been registered under the U.S. Securities Act of 1933.

LibertyStream develops lithium extraction technology and aims to produce lithium carbonate from oilfield brine using existing oil and gas infrastructure.

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