Snow Lake Resources prices 18.75M share public offering at 80c

Snow Lake Resources (LITM) announced the pricing of a “best-efforts” public offering of 18.75M common shares at a public offering price of 80c per share. All of the shares in the offering are being offered by the company. Total gross proceeds from the offering are expected to be $15M. The offering is expected to close on December 31. The company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes. ThinkEquity is acting as sole placement agent for the offering. Shares of Snow Lake are down 36%, or 58c, to $1.02 in premarket trading.