Lithium miner Snow Lake more than doubles in U.S. debut

Frontier Nuclear and Minerals

19/11/2021 17:48

** Snow Lake Resources Ltd  LITM.O  more than doubles in
debut after Canadian lithium mining firm prices IPO
    ** LITM opens at $11.50 vs $7.50 IPO price. Stock last up
132.0% at $17.40
    ** Co sold 3.2 mln shares at top end of $6.50-$7.50 filed
range, raises $24 mln  urn:newsml:reuters.com:*:nACSLLvRLa
    ** Snow Lake is an exploration stage co is engaged in
lithium exploration in province of Manitoba
    ** Co says aims to derive substantial revenues from sale of
lithium hydroxide to the growing electric vehicle (EV) and
battery storage markets in U.S> and abroad, per filing https://www.sec.gov/Archives/edgar/data/1769697/000121390021056809/ea149994-f1a6_snowlake.htm
    ** ThinkEquity sole bookrunner for the IPO
    ** Nearly 13 mln shares have traded so far on Fri
    ** Co has roughly 16 mln shares outstanding

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))