The lock-up period for Snow Lake Resources Ltd. expected to close May 18 (NASDAQ:LITM)


Snow Lake Resources’ (NASDAQ:LITMGet a rating) the blocking period is due to expire on Wednesday, May 18. Snow Lake Resources had issued 3,200,000 shares in its initial public offering on November 19. The total offer size was $24,000,000 based on an initial share price of $7.50. After the company’s lock-up period ends, the restrictions preventing insiders and major shareholders from selling shares of the company will be lifted.

LITM-share opened at $3.48 on Wednesday. The company’s fifty-day moving average price is $6.43. Snow Lake Resources has a one-year low of $3.21 and a one-year high of $18.42.

Hedge funds have recently increased or reduced their holdings in the stock. Citadel Advisors LLC acquired a new stake in Snow Lake Resources during the fourth quarter valued at $81,000. Lynwood Capital Management Inc. acquired a new stake in Snow Lake Resources during the first quarter valued at $470,000. Kepos Capital LP acquired a new stake in Snow Lake Resources during the fourth quarter valued at $576,000. murchinson ltd. acquired a new stake in Snow Lake Resources during the fourth quarter valued at $595,000. Finally, JS Capital Management LLC acquired a new stake in Snow Lake Resources during the fourth quarter valued at $202,841,000. Institutional investors hold 8.17% of the company’s shares.

About Snow Lake Resources (Get a rating)

Snow Lake Resources Ltd., a natural resource exploration company, is engaged in the exploration and development of mineral resources in Canada. The Company explores lithium mineral resources. Its main asset is the Thompson Brothers Lithium property, which consists of 38 contiguous mining claims located in Manitoba.

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