Nevada Lithium Announces Closing of $6 Million Private Placement led by Strategic Investor Marcel Boekhoorn

VANCOUVER, British Columbia, Aug. 16, 2024 (GLOBE NEWSWIRE) — Nevada Lithium Resources Inc. (CSE: NVLH; OTCQB:NVLHF; FSE: 87K) (“Nevada Lithium” or the “Company”) is pleased to announce that it has completed a non-brokered private placement consisting of the issuance of a total of 48,000,007 units (each, a “Unit”) at a price of $0.125 per Unit, raising aggregate gross proceeds of $6,000,000.88 (the “Offering”). Each Unit consists of one common share of the Company (each, a “Share”) and one common share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one Share at a price of $0.175 per Share for a period of three (3) years from the closing of the Offering (the “Closing”). The net proceeds from the Offering will be used to advance the Company’s 100% owned Bonnie Claire Lithium project (the “Project”), located in Nye County, Nevada, towards an updated Preliminary Economic Assessment (“PEA”) and Pre-Feasibility Study (“PFS”) on the Project, and for general corporate purposes.

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