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RENO, NEVADA--(Marketwired - July 27, 2015) - Western Lithium USA Corporation ("Western Lithium", the "Company") (TSX:WLC)(OTCQX:WLCDF) is pleased to announce that on July 20, 2015, it closed its previously announced non-brokered private placement (the "Private Placement") of subscription receipts (the "Subscription Receipts") to an affiliate of The Bangchak Petroleum Public Company Limited ("Bangchak"). Pursuant to the Private Placement, the Company issued to Bangchak an aggregate of 9,214,211 Subscription Receipts (an increase from the previously announced 8,920,714 Subscription Receipts due to foreign currency fluctuations) at a price of US$0.54264 per Subscription Receipt, for aggregate gross proceeds of US$5,000,000. The gross proceeds for the Subscription Receipts are being held in escrow pending satisfaction of the First Release Conditions and the Second Release Conditions (as each as defined below). |
