1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Valuation
Discussion
Symbol
LITM
Event Date
2021-11-19
Sector
Materials
Subsector
Metals & Mining
Offer Range
$7.50-$7.50
Shares Offered
3.2M
15.87M
$113.6M
20.2%
Implied Upside vs Midpoint
Description
Our Mission Snow Lake is committed to being the first fully renewable energy powered electric mine in the world that can deliver a completely traceable, conflict free, net zero carbon, battery grade lithium to the electric vehicle, or EV, consumer market. We aspire to not only set the standard for responsible lithium battery manufacturing but we intend to be the first lithium producer in the world to achieve Certified B Corporation status in the process. As a Certified B Corporation, we would hope to participate in accelerating the global culture shift to redefine success in business and help to build a more inclusive and sustainable economy. We are an exploration stage mining company engaged in lithium exploration in the province of Manitoba, Canada. On March 7, 2019, we and Nova Minerals, our parent company, entered into a share sale agreement, whereby, as part of a group restructuring, we acquired all of the outstanding capital stock of Thompson Bros (Lithium) Pty Ltd., a wholly owned subsidiary of Nova Minerals and owner of the Thompson Brothers Lithium Project discussed below. Our primary focus is currently conducting exploration for lithium at our 100% owned Thompson Brothers Lithium Project. Our objective is to develop a world-class lithium mine in Manitoba and to become the first fully energy renewable lithium hydroxide producer in North America, strategically located to supply the U.S. “Auto Alley,” from Michigan to the southern United States, and the European battery market via our nearby access to the Hudson Bay Railway and the Port of Churchill. With our commitment to the environment, corporate social responsibility and sustainability, we aim to derive substantial revenues from the sale of lithium hydroxide to the growing EV and battery storage markets in the U.S. and abroad. With access to renewable energy produced in Manitoba, we expect to become the first supplier in North America of lithium mined exclusively with the benefit of power produced from fully sustainable, local sources. --- We were incorporated in the Province of Manitoba, Canada under The Corporations Act (Manitoba), or MCA, on May 25, 2018 by our parent company Nova Minerals Limited. Prior to this offering, Nova Minerals owned approximately 74% of our outstanding common shares. Nova Minerals has agreed to lock up its holdings of our common shares for a period of 180 days from the date of effectiveness of the registration statement of which this prospectus forms a part. We have three wholly owned subsidiaries, Snow Lake Exploration Ltd., or Snow Lake Exploration, Snow Lake Crowduck Ltd., or Snow Lake Crowduck, and Thompson Bros (Lithium) PTY Ltd. (formerly Manitoba Minerals Pty Ltd), or Thompson Bros. Through a series of agreements between 2016 to 2019 we acquired a 100% interest in the TBL property. Our subsidiary, Thompson Bros, which owned our 20 Block A claims before they were transferred to Snow Lake Crowduck, has been deregistered in Australia and Manitoba. Our corporate address is 242 Hargrave St #1700, Winnipeg, MB R3C 0V1 Canada. Our company email address is info@snowlakelithium.com. Our registered office is located at 242 Hargrave St #1700, Winnipeg, MB R3C 0V1 Canada. Our agent for service of process in the United States is Cogency Global Inc., located at 122 East 42nd Street, 18th Floor, New York, N.Y. 10168. Our website can be found at www.snowlakelithium.com.
Snow Lake Resources Ltd. annual income statement and balance sheet, FY 2022 to FY 2025, as reported in SEC filings (CAD).
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Net income | CAD 9.4M | (CAD 15.5M) | (CAD 6.9M) | (CAD 16.0M) |
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Total assets | CAD 37.1M | — | CAD 29.9M | CAD 78.1M |
| Total liabilities | CAD 1.8M | — | CAD 4.4M | CAD 12.1M |
| Total equity | CAD 35.3M | CAD 22.5M | CAD 25.5M | CAD 66.0M |
| Cash & equivalents | CAD 23.8M | CAD 3.8M | CAD 2.5M | CAD 17.8M |