IPO - Profile

Summary

Offer Price Offer Size 3-Year Outlook Volatility First Day Turnover
$7.50 3,200,000 Positive High 759.04%

Offering Team

  • Legal counsel
  • Loeb & Loeb, LLP
  • Auditors
  • DeVisser Gray LLP

Deal Highlights

We are an emerging lithium chemicals and exploration company focused on the development of our 100% owned Thompson Brothers Lithium property, or the TBL property, in the historic and preeminent mining center of Snow Lake, Manitoba, Canada. Our goal is to become a strategic supplier of battery-grade lithium hydroxide to the growing electric vehicle battery and battery storage markets. Our primary asset is the TBL property, which consists of 38 contiguous mining claims located 20 km from Snow Lake, Manitoba. To capitalize on the fast-growing lithium market, our main focus is to monetize the resources and reserves held in the TBL property. This property has a historical Joint Ore Reserves Committee, or JORC, compliant mineral inferred resource estimate of 6.3 million tons at a high lithium grade of 1.38% Li2O containing 86,940 tons of Li2O using a 0.6% Li2O cut-off grade with an additional exploration target of 3 million tons to 7 million tons at a lithium grade between 1.3% and 1.5% Li2O in the immediate area of the resource. We have commissioned an updated resource estimate to be completed in accordance with NI 43-101. The Thompson Bros Lithium Project is ideally located in the Province of Manitoba, Canada, where 97% of the electrical energy supply is from hydro- electric renewable sources. The region of Snow Lake, where the TBL Property is situated, is mining friendly, and the Hudson Bay Railway runs within 30km of the TBL property. The Hudson Bay rail runs north to the Port of Churchill which supplies access to Europe by ship, or south to the EV manufacturing markets in Michigan and the southern US. we intend to be the first producer of battery grade lithium in North America using fully renewable sources of energy to power all of our future mining operations. Our belief is that investors and customers will demand ethically mined commodities created through the use of renewable energy sources enabling the ecologically friendly development of the electric vehicle market as a viable alternative to ICE powered vehicles. We intend to be a leader in these efforts and our TBL property’s location provides for that unique opportunity.

Deal Tracker

IPO Dates

Filing 18 Nov, 2021

Offer 19 Nov, 2021

Look Ahead

Lock Up Expiry May 19, 2022

IPO Terms

Offer Price $7.50
Offer Size 3M

Market Sentiments

Stock Price