Snow Lake jumps after lithium miner withdraws stock offering

Frontier Nuclear and Minerals

30/09/2022 14:49

** U.S.-listed shares of Snow Lake Resources Ltd  LITM.O  up
18.9% at $1.86 on Fri after co scraps planned equity raise. LITM
rises as high as $2.16 in early trade
    ** Canadian lithium miner files withdrawal request with SEC
saying it will not proceed with public offering, consistent with
the public interest and protection of investors
    ** LITM plummeted ~41% on Mon after co announced 10 mln
share offering at assumed price of $3, and said it received
noncompliance notice from Nasdaq relating to audit committee
requirement  urn:newsml:reuters.com:*:nL1N30X1WI
    ** Last Fri, shares surged 38% after supply deal with South
Korea's LG Energy Solution Ltd  373220.KS 
    ** YTD, shares now down 67% after setting record low record
low close of $1.56 in prior session
 (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))