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Energy|Infrastructure|PROJECT|Storage|Infrastructure
Energy|Infrastructure|PROJECT|Storage|Infrastructure
energy|infrastructure|project|storage|infrastructure

Frontier Lithium to raise C$15m from private placement

PAK project area in Ontario

PAK project area in Ontario

9th April 2026

By: Marleny Arnoldi

Online News Editor

     

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TSX-V-listed Frontier Lithium has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets that will see proceeds of C$15-million being raised for development of the PAK Lithium project, in north-west Ontario.

The underwriters have agreed to buy on a bought deal basis 20-million units at a price of $0.75 apiece.

Each unit will comprise one common share of Frontier and half of one common share purchase warrant. Each warrant will be exercisable to acquire one common share at a price of C$1 per warrant share for a period of two years.

The offering is expected to close on or about April 22.

Frontier has granted the underwriters an option exercisable at the offering price for a period of 30 days following the closing of the offering to purchase up to an additional 15% of the offering to cover over-allotments, if any.

Meanwhile, the company will use the net proceeds of the offering to complete an updated mine and mill technical report for the PAK project, as well as advance permitting, cost-shared infrastructure initiatives with government and a lithium conversion study for a potential downstream facility in Thunder Bay.

The prior Mine and Mill Feasibility Study completed by DRA Global in 2025 envisioned a 31-year project life with an after-tax net present value of $932-million, at an 8% discount rate, and an after-tax internal rate of return of 17.9%.

Frontier aims to become a strategic and integrated supplier of premium spodumene concentrates and battery-grade lithium salts to the growing electric vehicle and energy storage markets in North America.

The PAK project is being operated as a joint venture between Frontier with 92.5% ownership and Mitsubishi Corporation with 7.5% ownership.

Edited by Creamer Media Reporter

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