CPE News (11.23.2022) – Hertz Lithium Inc. has filed a preliminary prospectus in connection with a proposed initial public offering (IPO) of units at at $0.125 per unit for minimum gross proceeds of $1,500,000 and maximum gross proceeds of $2,000,000.
Hertz Lithium will apply to the CSE for conditional approval to list the common shares on the Exchange.
Canaccord Genuity Corp. acts as the sole agent for the offering. McMillan LLP and Miller Thomson LLP acted as legal counsel to Hertz Lithium and the agent respectively.
Hertz Lithium is a British Columbia based mineral exploration company that is primarily engaged in the acquisition and exploration of mineral properties. The Company has one material mineral property, the Lucky Mica Project, located in the Maricopa County of Arizona, USA, which is in the exploration stage. On April 21, 2022, Hertz Lithium entered into a property purchase agreement with Utah Mineral Resources LLC and Bullrun Capital Inc. to purchase 112 claims which form part of the Project.
Led by CEO Kal Malhi (Chairman of BullRun Capital) and CFO Zara Kanji, Hertz Lithium has been primarily backed private investors.
photo credit: Hertz Lithium