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RENO, NEVADA--(Marketwired - May 1, 2015) - Western Lithium USA Corporation ("Western Lithium", the "Company") (TSX:WLC)(OTCQX:WLCDF) is pleased to announce that it has entered into a convertible security funding agreement with an entity managed by The Lind Partners, a New York based asset management firm (together, "Lind"). An initial US$2.8 million will be funded pursuant to the issuance of an initial convertible security ("Convertible Security"), which is expected to occur by May 4, 2015 (the "First Tranche"). Lind can increase the funding under that Convertible Security by an additional US$600,000 during its two year term. The agreement also provides for the issuance of a second Convertible Security on mutual agreement of the Company and Lind, in which Lind would fund another US$2.8 million (that can also be increased by US$600,000) (the "Second Tranche"). |
