- Lake has commitments for a private placement of $2 million at $0.04 per share.
- Lake launches a Share Purchase Plan (SPP) to eligible shareholders to raise up to $1.5 million at $0.04 per share, the same price as the placement.
- Funds raised will be primarily used to fast track delivery of larger samples from the Kachi project pilot plant to offtakers and to close out the convertible securities facility.
- Updates will be provided over the coming weeks as the first larger samples are produced, together with advances in the pilot plant.
Lithium explorer and developer Lake Resources NL (ASX:LKE) welcomed the support of investors receiving commitments to raise $2 million, before costs, through the issue of approximately 50,000,000 shares at an issue price of $0.04, in a private placement to sophisticated and professional investors (Placement) using its existing placement capacity under ASX Listing Rules 7.1 and 7.1A.