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Lithium Co. Starts Trading on the CSE in Reverse Takeover

 

August 9, 2022 (Investorideas.com Newswire) First Lithium Minerals Corp. will begin trading on the Canadian Stock Exchange tomorrow, August 9, 2022, under the symbol FLM, following the completion of a reverse takeover of both First Lithium Minerals Inc. and QL Minerals Inc. by First Lithium Minerals Corp. (formerly PetroCorp Group Inc.)

Chilean-focused mineral exploration and development company First Lithium Minerals Inc. has announced a victorious closing of its reverse takeover (RTO) by First Lithium Minerals Corp. (FLM- CSE) of First Lithium Minerals Inc. and QL Minerals Inc.

First Lithium is currently steadfast in its lithium-Brine OCA Project. This project is made up of 8,900 hectares of mineral exploration concessions in Ollague, Carcote and Ascotan Salars in the Antofagasta Region, Chile.

President, CEO, and director of First Lithium Rob Saltsman said of its exploration campaign in Chile that "We intend on getting work for shareholders right away. We want to start by doing our geophysics as soon as possible followed by a sampling program. Results from this data will help map out our drilling campaign which we want to begin early in the new year or as soon as possible."

First Lithium started assembling properties in 2016.

Previously, First Lithium had closed $5,914,500 in a private placement comprised of subscription receipts at $0.25 per receipt. With the RTO now closed, all subscription receipts were exchanged for common shares in First Lithium.

QL Minerals Inc. separately closed $795,000 in a private placement of subscription receipts at $0.25 per receipt and these too were exchanged for common shares in First Lithium.

QL Minerals is a mineral exploration company with 39 claims in the township of Senneville, Quebec, Canada.

Regarding trading in the U.S., Saltsman noted, "We completed the RTO or the three-point amalgamation with First Lithium Minerals Corp. (formerly PetroCorp Group), and by doing so, we will have a US listing with DTC eligibility fairly quickly because First Lithium Minerals Corp. already had one. Normally this process can take up to four months or longer to get."

First Lithium Minerals Corp. (formerly PetroCorp Group Inc.) acquired both First Lithium Minerals Inc. and QL Minerals Inc. All shares of both companies were exchanged for shares of First Lithium Minerals Corp. as PetroCorp changed its name to First Lithium Minerals Corp. and consolidated its outstanding common shares on an approximate one share for 82 share basis.

The Canadian Securities Exchange (CSE) gave conditional approval to First Lithium for the listing of common shares on June 29, 2022. This led to the closing of the RTO and a Bulletin on August 5, 2022, from the CSE announcing that the common shares of First Lithium Minerals Corp. (FLM - CSE) have been approved for listing on the CSE.

First Lithium expects to begin trading on the CSE tomorrow, August 9, 2022, under the symbol FLM.

Disclosures

1) Katherine DeGilio compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with First Lithium Minerals Corp. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees, or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of First Lithium Minerals Corp., a company mentioned in this article.

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