Snow Lake Resources dives as parent plans to slash stake

Frontier Nuclear and Minerals

04/04/2022 18:42

** U.S.-listed shares of Snow Lake Resources Ltd  LITM.O 
down 23.0% at $7.73 as Canadian lithium mining firm's parent
looks to reduce its holdings
    ** Nova Minerals Ltd may sell up to 3 mln shares, per SEC
filing https://www.sec.gov/Archives/edgar/data/1769697/000121390022017632/ea157829-f1_snowlake.htm
    ** Following the sale, LITM will cease to be a "controlled
company"
    ** Nova currently owns 9.6 mln shares, or ~54% stake in
LITM, per the filing
    ** Exploration-stage LITM more than doubled in its Nasdaq
debut in Nov after 3.2 mln share IPO priced at $7.50
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 (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))