Placement Upsized by $1.9M to $3.4M Following Strong Demand

Lake Resources NL announces extention and upsize of its private placement, with commitments received to raise a further $1.9 million before costs

  • Lake upsizes private placement by a further $1.9 million before costs to sophisticated and professional investors, as investors show support for Company’s development plans and partner Lilac’s technology backed by Bill Gates-led fund.
  • Share Purchase Plan (SPP) still has capacity available and remains open until Friday 28 February; participants to be scaled back on pro-rata basis in event SPP is oversubscribed.
  • Production of significant lithium carbonate samples by Lilac Solutions ion exchange pilot plant for potential offtake partners in Lake’s and Lilac’s immediate focus, as Lake advances development of scalable and sustainable lithium extraction
  • A video interview for investors with MD Steve Promnitz is available for access at:

Placement Extended

In a sign of renewed investor confidence, lithium explorer and developer Lake Resources NL (ASX:LKE) announces today it has extended and upsized its private placement, with commitments received to raise a further $1.9 million before costs, which will result in the issue of approximately 47.5 million shares, at an offer price of $0.4 per share, to sophisticated and professional investors. Settlement is anticipated to be Wednesday, 26 February 2020. This will bring the total amount raised under the new placement shares in total (refer to announcements of 14 and 20 February 2020 for information on prior placement share issues). The Company is preparing a supplementary prospectus which will address these matters which is anticipated to be lodged on or around 26 February 2020.

Read the full press release here.

AU$4 Billion Galaxy/Orocobre Merger to Create Top 5 Lithium Company

Australia’s Orocobre (TSX:ORL,ASX:ORE) and Galaxy Resources (ASX:GXY,OTC Pink:GALXF) agreed this week to join forces in a AU$4 billion “merger of equals.” The deal comes as demand for lithium for electric vehicle (EV) batteries continues to pick up pace.

Once the merger is complete, the new company will become a top five lithium chemicals company globally — and top three outside of China — with production capacity of around 40,000 tonnes of lithium carbonate equivalent per year.

“The merged entity’s growth opportunities in both brine and hard rock position it uniquely to take advantage of expected rising EV demand for lithium,” Galaxy Chairman Martin Rowley said.

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IIROC Trading Halt – TMRR

The following issues have been halted by IIROC:

Company: Tempus Resources Ltd.

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Cleantech Investing in Australia

Climate change is a looming issue for Australians, with 82 percent concerned about bushfires and 81 percent worried that drought or flooding will affect crop production and food supply.

This is where conscious investors look to the cleantech sector, which covers everything from renewable energy to low-emission technologies to water technology to battery storage and more.

What should investors know about cleantech in Australia before they jump in? Read on for a look at key factors, including market size, the industries encompassed by cleantech and big players to watch.

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Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Becoming a substantial holder

The announcement can be viewed at:
https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

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Hastings Technology Metals Ltd Signs Major Offtake Contract with thyssenkrupp

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Limited (ASX:HAS) is pleased to announce that it has executed a binding offtake contract with thyssenkrupp Materials Trading GmbH (TK), for high-grade mixed rare earth carbonate (MREC) from the Company’s Yangibana Rare Earths Project (Yangibana) in the Gascoyne region of Western Australia.

Highlights

– Hastings announces signing of a major offtake contract for the supply of its high grade product from its Yangibana Rare Earths Project in Western Australia to thyssenkrupp Materials Trading GmbH.

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