Sustainable Projects Group Successfully Closes $2.9 Million Private Placement

Sustainable Projects Group Inc., a green technology mining company focused on sustainable lithium projects, has announced the successful closing of a private placement that raised $2.9 million. The private placement involved the issuance of 8,847,000 restricted shares of the company’s common stock.

The private placement was completed in multiple tranches, with shares issued to investors at different prices. The proceeds from the private placement will be used for general corporate purposes, further strengthening the company’s financial position.

Sustainable Projects Group is dedicated to supplying high-performance lithium compounds to the rapidly growing electric vehicle and battery markets. Its subsidiary, Lithium Harvest, has developed a proprietary technology to extract lithium from oilfield wastewater, allowing for the quick and cost-effective production of lithium compounds with a reduced environmental impact.

The company’s Chairman and CEO, Sune Mathiesen, expressed his enthusiasm about the successful private placement, stating, “This additional liquidity will enable us to continue our mission of providing sustainable lithium solutions to meet the increasing demand in the electric vehicle industry.”

Sustainable Projects Group acknowledges that forward-looking statements are subject to certain risks and uncertainties, but it remains confident in its ability to execute its business strategies. The company believes that its innovative approach to lithium extraction, coupled with its commitment to sustainability, positions it well for future success.

Investors are advised to review the company’s filings with the Securities and Exchange Commission (SEC) for a comprehensive understanding of the risks and factors that could impact the company’s performance.

With the successful closing of the private placement, Sustainable Projects Group is poised to further its mission of contributing to a greener future through sustainable lithium projects.