Lake Resources Announces $2 Million Placement Completed

- February 10th, 2020

Lithium explorer and developer Lake Resources NL (ASX:LKE) welcomed the support of investors receiving commitments to raise $2 million.

Highlights:

  • 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.

Placement

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.

Click here to read full ASX Announcement

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