Ultra Lithium Inc. announced a non-brokered private placement of 3,636,364 units at a price of CAD 0.055 per unit for gross proceeds of CAD 200,000 on September 29, 2023. Each unit will be comprised of one common share and one half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at CAD 0.11 per warrant share in the first twelve months following issuance and at CAD 0.25 per warrant share in the second twelve months following issuance.

The company paid no finders fees associated with this transaction. The transaction is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. The unit shares and warrant shares will be subject to a hold period of four months and one day in accordance with applicable securities laws.

The TSX Venture Exchange has accepted for filing documentation with respect to anon-brokered private placement. The transaction included participation from 1 placee.