Lithium Australia Shareholders Priority Offer Now Open

Lithium Australia (ASX:LIT) announces priority offer for shareholders.
Highlights

• Partnership with MetalsTech provides LIT with significant equity and technology leverage across six highly prospective hard rock lithium projects in Quebec
• LIT shareholders rewarded with a $1 million priority offer in MetalsTech IPO
• Lucrative licensing structure for LIT’s disruptive lithium processing technologies

It is with great pleasure that Lithium Australia NL (ASX: LIT) is able to invite shareholders to participate in the Initial Public Offer (IPO) and ASX Listing of MetalsTech Limited (MTC) through a priority offer.
Background of MetalsTech Limited
MTC was formed to identify, fund, acquire, explore and develop high grade hard rock lithium projects in Quebec, Canada.
Quebec is an attractive jurisdiction in which to pursue exploration and mining activities and has been consistently ranked in the top 10 mining jurisdictions globally by the Fraser Institute. It boasts clear and transparent mining regulations, well-developed infrastructure including road, rail and port as well as very low-cost power from one of the world’s largest hydro-electricity operations.
Quebec has a history of hard rock lithium production and has a track record in not only permitting new lithium mines, but co-investing alongside private enterprise through Investissement Quebec, a Quebec government funded initiative. All-in-all it is a mining friendly jurisdiction that has demonstrated strong support for the ‘lithium revolution’.
MTC has assembled a strong board and management team with significant Canadian- specific experience and a track record in discovering resource deposits. Funds raised under the MTC prospectus will allow the Company to accelerate exploration at the portfolio of Projects which MTC has a right to acquire.
A recent exploration program at the Cancet Lithium Project and the Adina Lithium Project has confirmed the presence of high grade lithium from channel sampling from surface. MTC currently plans to immediately follow up with a detailed drilling program at each Project with an aim to further advance these high priority projects.
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