NOA Lithium Brines Announces $4M "Bought Deal" with Red Cloud

NOA Lithium Brines Inc. has announced a "bought deal" agreement with Red Cloud Securities to raise approximately C$4 million. The deal involves the sale of 15,384,616 units at C$0.26 each. Each unit will include one common share and a warrant allowing the purchase of another share at C$0.40 within 36 months.

An option allows Red Cloud to purchase an additional 3,846,154 units, potentially increasing the proceeds by C$1 million. The proceeds will primarily fund the advancement of NOA's Rio Grande Project and other corporate purposes.

The offering is private, targeting investors in select Canadian provinces, the U.S., and other jurisdictions. It is expected to close around November 20, 2025, contingent upon regulatory approvals.