Libra Energy Materials (CSE:LIBR) has raised C$$725,000 ($730,578) to advance lithium exploration in the James Bay region of Québec, Canada.
Under a private placement, the company will sell 5 million flow-through common shares priced at C$0.145 per share.
The placement is led by two Québec-based institutional investors, SIDEX and NQ Mining Investment.
The gross proceeds, says Libra, will be used for exploration on its newly acquired flagship projects Cisco West and Obamska.
The projects are both situated on the Frotet-Evans greenstone belt, where Q2 Metals (TSX-V:QTWO) is advancing the Cisco Lithium Project.
Libra Energy Materials is a Canadian mineral exploration company focused on discovering and developing critical minerals needed for the green energy transition.
Write to Jackson Chen at Mining.com.au
Main Image: peupleloup, under Creative Commons licence CC BY-SA 2.0
