M4E Lithium Secures Strategic C$7.5M to C$10M funding package from Lithium Royalty Corp.
Date Closed
March 12, 2024
Lead Office
Vancouver
Value
10.00 Million CAD
On March 12, 2024, M4E Lithium (“M4E”) entered into a comprehensive financing package for C$7.5 to C$10 million with Lithium Royalty Corp. and the Electrification and Decarbonization fund (the “Waratah E&D Fund”) managed by Waratah Capital Advisors Ltd. to accelerate Brazilian lithium exploration. The financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement (with a buyback option). M4E will deploy the capital to aggressively advance exploration activities across its expansive 91k hectares within prolific lithium districts. This includes continued drilling activities, geological mapping, and resource definition studies. M4E is targeting a Preliminary Mineral Resource estimate by mid-2025.
M4E Lithium is a private exploration company focused on the acquisition, exploration, and development of hard rock lithium mineral properties in Brazil. The Company holds exploration rights to 91,000 hectares of prospective lithium pegmatites within the Lithium Valley and Borborema regions of northeastern Brazil.
McCarthy Tétrault assisted M4E with a team led by Shawn Doyle that included Adam Wanke and Peter Quon (Business).
