Far Resources secures CAD $12 million equity facility with New York-based Alumina Partners.

.

.

VANCOUVER, CANADA – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) is pleased to announce that it has secured a non-exclusive draw-down equity facility of up to CAD $12 million with Alumina Partners, LLC, a New York-based private equity firm.

.

As well as strengthening the company’s balance sheet, the facility will allow Far to pursue its highly successful exploration activities at Zoro and Hidden Lake and to take advantage of new opportunities in the technology metals sector, increasing its ability to move quickly with new strategies.

.

The terms of the agreement will allow Far to draw down capital at will, on an as-needed basis, in a series of equity private placements of up to CAD $1 million each over a 24-month period, in accordance with exchange policies. The objective is to provide Far with more flexible access to capital at the Company’s sole discretion.

.

“This represents a significant milestone for Far,” said Far President and CEO, Toby Mayo. “This partnership and cornerstone investment from Alumina will allow the company to advance its excellent Canadian hard rock lithium assets—which are standing up to multiple rounds of expansive exploration—and to pursue its longer term strategies in the sector. The next 12 to 24 months look extremely exciting for the company as we raise our profile and move to become a major participant in North American technology metals.”

.

“We are very excited to support Far Resources in their ambitious plans to not only expand their footprint in the lithium space but also to transformatively grow their business to better reflect the mission critical role that lithium plays in the global mobile technology market,” added Adi Nahmani, Managing Member of Alumina Partners, LLC. “We were deeply impressed by management’s expertise not just in the science of their own business but also their planned outreach to the high-margin, high-demand industries that depend on more and more lithium to supply their growth. We look forward to investing in Far and to watching 2019 unfold.”

.

Click here to read the complete Press Release