MiningNewsBreaks – Standard Lithium Ltd. (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) Obtains C$5 Million Convertible Loan Financing
Lithium-focused exploration company Standard Lithium (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) this morning announced the company’s entrance into a C$5,000,000 loan and guarantee agreement with LANXESS Corporation (the “lender”). The loan has been fully advanced to the company as US$3,750,000, based on an agreed exchange rate, and will be utilized in the ongoing development of a demonstration plant in southern Arkansas. The plant is intended to demonstrate Standard Lithium’s proprietary process for the extraction of lithium from brine solutions. The principal amount of the loan will be convertible at a rate of one common share and one-half of a warrant…
