Lithium Energi Exploration, Inc. (TSXV:LEXI) announced that it will receive CAD 16 million in credit facility from Arena Investors, LP on January 26, 2018. The credit facility is structured as an unsecured lending arrangement with up to five tranches, specifically being an initial CAD 4 million tranche at closing and up to four quarterly tranches thereafter in the amount of CAD 3 million per tranche over a period of twelve months. Each note will be issued at 95% of face value and each is redeemable at par at its maturity. Repayment of the credit facility is note-specific with each note maturing and becoming repayable by the company after the expiration of twelve months from the date of the note, subject to a maturity extension at the election of the company of an additional 12 months for each such note. The notes have a coupon of 10% for the first twelve months and 15% for the second twelve months, if maturity is extended, and such coupon is payable at the time the applicable note is repaid. On February 23, 2018, the company announced that it will also issue 252,206 share purchase warrants to Jett Capital Advisors LLC. Each warrant entitles the holder to acquire one common share of the company at an exercise price of CAD 0.79 per common share. The warrants will have a term of two years.