Vinland Lithium Inc. has filed documents with the TSX Venture Exchange seeking conditional approval for a private placement financing of flow-through units to raise gross proceeds of up to $300,000.

Under the terms of the private placement, Vinland is offering flow-through units priced at $0.48 each. Every unit consists of one flow-through common share and one non-flow-through common share purchase warrant. Each warrant allows the holder to buy an additional non-flow-through common share at an exercise price of $0.70 for 24 months from the issue date. The flow-through shares entitle investors to receive applicable tax benefits under the Income Tax Act of Canada.

The proceeds raised from the offering will fund Canadian exploration expenses directed at advancing the lithium, cesium, and tungsten potential of the Killick project in southwestern Newfoundland. Vinland holds a 100% interest in the property, subject to a 2% net smelter return royalty split evenly between Benton Resources and Pirate Gold. The Killick project spans 30 kilometres of prospective geological terrane along the Baie d'Est Fault and hosts multiple spodumene-pegmatites within the Kraken Pegmatite Field.

Finders' fees may be paid in cash, securities, or a combination of both in connection with the private placement, subject to exchange policies. All securities issued under the financing will carry a four-month hold period from their date of issue.

The financing remains subject to final approval from the TSX Venture Exchange, with completion anticipated by September 30, 2026. In addition to the financing, Vinland plans to release assay results for 11 samples collected from a tungsten occurrence at the project once laboratory analysis is complete.

Read the full announcement: Vinland Files for Conditional Approval of Flow-Through Financing