Vinland Lithium Seeks Approval for $300,000 Flow-Through Financing

Vinland Lithium Inc., a company focused on lithium, cesium, and tungsten exploration, has filed for conditional approval of a $300,000 flow-through unit private placement financing with the TSX Venture Exchange. The financing will consist of up to 625,000 flow-through units, each priced at $0.48, raising a total of $300,000. Each flow-through unit will comprise one flow-through common share and one non-flow-through common share purchase warrant, with each warrant allowing the holder to purchase one additional common share at an exercise price of $0.70 for 24 months.

The funds raised will be used to advance the exploration of the Killick project, focusing on the potential for lithium, cesium, and tungsten. The company will ensure that the Canadian exploration expenses qualify as flow-through mining expenditures, as per the Income Tax Act (Canada). The flow-through shares will provide the holders with tax benefits related to these expenditures.

Vinland Lithium Inc. may pay finders' fees in cash or securities, or a combination of both, as permitted by the TSX Venture Exchange policies. All securities issued under this private placement will be subject to a four-month hold period. The approval of the TSX Venture Exchange remains a condition for the completion of the financing.

Stephen Stares, President of Vinland Lithium Inc., stated, "We are pleased to move forward with this financing to support our Killick project. The funds will be crucial in advancing our exploration efforts and ensuring we can continue to develop our resources effectively."

The company will continue to monitor the progress of the private placement and will provide updates as necessary. The Financing remains subject to approval by the TSX Venture Exchange.