
September 08, 2022
Funds to progress and accelerate the development of the Maricunga brine project in Chile
Lithium Power International (ASX: LPI) (“Lithium Power” or “the Company”) is pleased to announce that it has received binding commitments from institutional, sophisticated and professional investors to raise A$25 million (before costs) through a single tranche placement (“Placement”). The Placement will see the Company issue approximately 41,666,667 new fully paid ordinary shares at an issue price of A$0.60 per share (“New Shares”).
Highlights:
- Firm commitments received from institutional, sophisticated and professional investors to raise approximately A$25 million via a successful share Placement at A$0.60 per share.
- The successful Placement highlights support for the Company’s progress in Maricunga, with positive updated Definite Feasibility Study results announced earlier this year for its Stage One project.
- The Company is well-funded with pro-forma 30 June 2022 cash of A$31.5 million.
- Consolidation of 100% of Maricunga ownership as announced on 22 June 2022 progressing well with Notice of Meeting to be dispatched within the next month
The Placement attracted strong support from both new and existing shareholders, and the Company is pleased to introduce a number of high-quality domestic and North American institutional investors to its register.
Commenting on the successful capital raising, Lithium Power’s CEO & Managing Director, Cristobal Garcia-Huidobro, stated:
“The result of the capital raise is an outstanding endorsement of Lithium Power’s ambition to rapidly advance the significant Maricunga lithium asset and capitalise on the rapid global shift towards the electrification of transport and infrastructure.
Investing in green technologies is essential to ensuring the battery revolution and the delivery of clean, green energy that the world is eagerly awaiting.
The funds raised will allow Lithium Power to progress the development and accelerate the expansion of the Maricunga project, as well as general working capital purposes.
On behalf of the Company, I would like to warmly welcome new shareholders and thank existing shareholders for their ongoing support.”
Use of Proceeds
Funds raised via the Placement will primarily be used to progress with the development and expand and accelerate the Maricunga project. Specifically, funds will be applied to the operational and pre-construction costs for the 100% consolidated Maricunga project and the increased operational compliance costs associated with the acquisition of the ownership of the Chilean and Canadian joint venture partners in Maricunga project.
Placement Details
New Shares issued in the Placement will be issued at a price of A$0.60 per share, which represents a:
- 13.7% discount to the last closing price of A$0.695 on 7 September 2022;
- 5% discount to the 5-day VWAP; and
- 3% discount to the 10-day VWAP
The Placement will take place in a single tranche pursuant to the Company’s available Placement capacity under the ASX Listing Rules (34,110,679 shares under 7.1A and 7,555,988 shares under 7.1). New Shares will rank equally with the Company’s existing fully paid ordinary shares on issue.
Settlement of the Placement is expected to occur on 15 September 2022.
Canaccord Genuity (Australia) Limited acted as Lead Manager and Bookrunner to the Placement.
Click here for the full ASX Release
This article includes content from Lithium Power International, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
LPI:AU

Sign up to get your FREE
Lithium Power International Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
INN Article Notification
The Conversation (0)
09 December 2021
Lithium Power International
A Pure-Play Mining Company Developing Multiple Lithium Mines
A Pure-Play Mining Company Developing Multiple Lithium Mines Keep Reading...
27 May
Why Global EV Sales Are Telling Three Different Stories in 2026
New data from Benchmark Mineral Intelligence shows that the global electric vehicle (EV) market fractured along regional lines in early 2026. While global sales reached 5.6 million passenger EVs through April — a modest 6 percent year-on-year increase — that headline number masks a stark... Keep Reading...
21 May
7 Biggest Lithium-mining Companies in 2026
For a long time, most of the world's lithium was produced by an oligopoly of US-listed producers. However, the sector has transformed significantly in recent years.While Australia has long been a top-producing country when it comes to lithium, China has risen quickly to become not only the top... Keep Reading...
21 May
Core Lithium Restarts Finniss, Awards US$274 Million Underground Contract
Core Lithium (ASX:CXO,OTCPL:CXOXF) has officially restarted physical mining at its flagship Finniss operation in Australia’s Northern Territory, initiating open-pit excavation while concurrently awarding a US$274 million contract to anchor the site's long-term underground future.At the surface... Keep Reading...
19 May
MinRes to Reboot Bald Hill Lithium Mine to Capitalise on Price Rally
Mineral Resources (MinRes) (ASX:MIN,OTCPL:MALRF) will restart its Bald Hill lithium mine in Western Australia following an 18 month freeze, moving to capitalise on a 50 percent year-to-date rebound in lithium prices.The Perth-based miner announced on Monday (May 18) that it will bring the fully... Keep Reading...
08 May
Top 5 Canadian Mining Stocks This Week: Highland Critical Minerals Soars 400 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian news impacting the resource sector.On Friday (May 8), Statistics Canada released April’s Labor Force Survey. Canada’s job market was... Keep Reading...
04 May
POSCO Finalizes US$765 Million Deal for Stake in MinRes' Lithium Mines
South Korean steel and battery materials conglomerate POSCO Holdings (NYSE:PKX,KRX:005490) has finalized a US$765 million agreement with Perth-based Mineral Resources (MinRes) (ASX:MIN,OTCPL:MALRF) to acquire a 30 percent stake in two Australian hard-rock lithium mines.POSCO will take a 30... Keep Reading...
Latest News

Sign up to get your FREE
Lithium Power International Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00






