NOA Lithium Completes C$5.9 Million Private Placement

NOA Lithium Brines Inc. has closed a significant "bought deal" private placement, raising C$5.9 million. The deal involved selling 22,764,000 units at C$0.26 per unit. Each unit included a common share and a warrant exercisable at C$0.40 until December 1, 2028. Red Cloud Securities Inc. served as the sole underwriter.

Proceeds will further NOA's Rio Grande Project in Salta, Argentina, as well as cover general corporate needs. Clean Elements Ltd. participated significantly in the offering, reinforcing its stake in the company. Securities issued to Clean Elements are subject to a hold period until April 2, 2026.

The completion of this transaction remains pending final TSX Venture Exchange approval. The offering was conducted under various prospectus exemptions across different jurisdictions.