SPOD Lithium closes first tranche of private placement for $130,000

SPOD Lithium Corp. (CSE: SPOD) (OTCQB: SPODF) completed the first tranche of its non-brokered private placement, raising $130,000 through the sale of 6.5 million units at $0.02 per unit.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at $0.05 each within 24 months of the closing date. The company did not pay finder's fees for the offering.

SPOD plans to use the proceeds for general working capital purposes, subject to securities law compliance and Canadian Securities Exchange policies. No company insiders participated in the private placement.

All securities issued will be subject to a four-month and one-day statutory hold period from issuance, along with a CSE-prescribed trading restriction until the hold period expires.

The securities have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without proper registration or exemption.

SPOD Lithium is an exploration and development company focused on lithium resources, with properties located in Quebec and Ontario, Canada. The company was founded in 2020.

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