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Lithium Australia (ASX:LIT) is focused on developing advanced lithium extraction technologies via its innovative Sileach™ process, making it the only company in the world with the capability of processing lithium silicate without roasting. Businessnews.com announced that Lithium Australia plans to acquire a Brisbane-based battery cathode developer in an all-scrip deal worth about 7.3 million. As quoted …
Lithium Australia (ASX:LIT) is focused on developing advanced lithium extraction technologies via its innovative Sileach™ process, making it the only company in the world with the capability of processing lithium silicate without roasting. Businessnews.com announced that Lithium Australia plans to acquire a Brisbane-based battery cathode developer in an all-scrip deal worth about 7.3 million.
As quoted in the article:
Perth-based Lithium will issue up to 612 million shares to acquire Very Small Particle Company, which holds intellectual property that facilitates the production of battery cathode material.
The acquisition includes a decommissioned pilot plant in Brisbane, which is designed to produce complex metal oxides and phosphates for cathode production.
Source: www.businessnews.com.au
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