Libra Energy Materials Inc. has filed an amended and restated offering document that expands its right to increase its listed issuer financing exemption offering to raise up to $1,800,000 in gross proceeds.

The updated filing corrects a certificate date reference, updates share closing prices across the Canadian Securities Exchange, the OTCQB, and the Frankfurt Exchange, and clarifies available funds earmarked for working capital, general use of proceeds, and any potential payments to insiders.

The financing currently consists of aggregate gross proceeds of $700,000, split across two distinct share structures. The placement comprises 5,000,000 common shares priced at $0.10 each to raise $500,000, alongside 1,538,462 critical flow-through shares priced at $0.13 each to generate $200,000. Under the revised terms, the company holds the right to expand the placement up to the $1,800,000 ceiling, which would provide for the issuance of up to 15,000,000 common shares for $1,500,000 and 2,307,692 flow-through shares for $300,000.

Completion of the offering remains subject to customary closing terms and conditions, including formal approval from the Canadian Securities Exchange. Additionally, the company must incur eligible Canadian exploration expenditures funded by the flow-through shares on or before December 31, 2027.

The capital raised supports an active portfolio of Canadian lithium assets. In Ontario, Libra explores the Flanders North, Flanders South, and SBC lithium projects under a six-year, CAD $33 million earn-in agreement with KoBold Metals Company. Further east, the company holds the Cisco West and Obamska lithium projects in Québec as flagship domestic assets, located directly adjacent to Q2 Metals' Cisco deposit.

Read the full announcement: Libra Announces Filing of Amended and Restated Offering Document