Snow Lake Resources Ltd (NASDAQ:LITM) shares are trading lower by 61% to 31 cents during Thursday's session. The company earlier priced a public offering of 15.75 million common shares at 41 cents per share, aiming to raise gross proceeds of approximately $6.45 million.

The offering, managed by ThinkEquity as the sole placement agent, is set to close on December 20, pending standard conditions.

Proceeds from the offering will be allocated primarily to working capital and general corporate purposes.

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According to data from Benzinga Pro, LITM has a 52-week high of $1.50 and a 52-week low of $0.15.