NOA Lithium Secures $912,596 in First Tranche of Private Placement

NOA Lithium Brines Inc., listed on the TSXV under NOAL, successfully closed the first tranche of their non-brokered private placement, securing $912,596 CAD. This initiative involves the sale of 5,368,217 units at $0.17 each. Every unit comprises a common share and a purchase warrant, exercisable at $0.221 over 30 months.

The company plans to use these funds to advance their flagship Rio Grande project, anticipating a preliminary economic assessment by the latter half of 2025. Investment by company insiders underscores their commitment and confidence in NOA's prospects.

The private placement awaits final approval from TSX Venture Exchange and must comply with a statutory four-month hold period. Despite not filing a timely material change report, NOA relies on exemptions within MI 61-101 regulations.