First Lithium Minerals is launching a non-brokered private placement aiming to raise up to approximately $4.25 million under the listed issuer financing exemption, following the expiry of a prior offering.

The new financing comprises up to 35,500,000 non-flow-through units priced at $0.11 each to raise up to $3.905 million, alongside up to 2,333,333 flow-through units priced at $0.15 each to raise up to $350,000. Each unit consists of one common share and one-half of a common share purchase warrant. Warrants are exercisable at $0.18 per share for a three-year period starting 60 days after the closing date.

Net proceeds from the non-flow-through units are allocated for exploration drilling and brine sampling at the Ascotan lithium project in northern Chile, as well as general working capital and corporate purposes. Gross proceeds from the flow-through units will fund eligible Canadian exploration expenses at the Lidstone gold project in northwestern Ontario, which must be incurred by December 31, 2027.

The 100%-owned Ascotan project sits within the Salar de Ascotan in the Antofagasta Region at an altitude of 3,716 metres. Operations at the site are backed by environmental approval from Chile's Environmental Evaluation Service and a cooperation agreement established with the Cebollar-Ascotan Indigenous Community. Meanwhile, the Lidstone property spans approximately 27 kilometres of greenstone belt within the central portion of the English River sub-province of the Superior Province.

Concurrent with the main offering, First Lithium Minerals may close a separate private placement of up to 6,772,727 units at $0.11 per unit to raise gross proceeds of up to approximately $745,000.

The first closing of the offering is expected to occur on or about September 29, 2026, subject to receipt of necessary regulatory and other approvals.

Read the full announcement: First Lithium Minerals Announces Commencement of New LIFE Offering