Snow Lake Lithium falls on 10 mln share offering

Frontier Nuclear and Minerals

26/09/2022 13:38

** U.S.-listed shares of Snow Lake Resources Ltd  LITM.O 
down ~17% premarket as Canadian lithium miner looks to raise
equity
    ** Co files to sell 10 mln shares for resource development
activities, technical studies and reports, working capital and
general corp purposes, per securities filing
    ** ThinkEquity sole bookrunner
    ** LITM's shares on Fri surged 38% to close at $3.18 on
record volume after co announced supply deal with South Korea's
LG Energy Solution Ltd  373220.KS   urn:newsml:reuters.com:*:nL1N30U17I  urn:newsml:reuters.com:*:nACSXwP0Sa
    ** Snow Lake has 17.9 mln shares outstanding
    ** Shares of Australia's Nova Minerals Ltd  NVA.AX 
subsidiary down ~45% YTD through Fri
 (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))