Lithium Universe Ltd  Appendix 4D & Half Yearly Report

Lithium Universe Ltd Appendix 4D & Half Yearly Report

Melbourne, Australia (ABN Newswire) - During the June Quarter the Company announced (ASX Announcement 29 May 2023) that it had entered into five binding sale and purchase agreements ("Acquisition Agreements") for the acquisition of lithium and rare earth projects.

Under the terms of the Acquisition Agreements, upon satisfaction of various conditions precedent, the Company would acquire:

a. an 80% interest in the Apollo Lithium Project, Adina South Project, Adina West Project and Margot Lake Project (together, the Canadian Lithium Projects); and
b. an 80% interest in the Voyager Project and a 100% interest in the Lefroy Project (together, the Australian Projects), (collectively, the Proposed Acquisitions).

The Proposed Acquisitions would amount to a significant change to the nature and scale of the Company's activities and as such, the Company was required to obtain shareholder approval under ASX Listing Rule 11.1.2 at a general meeting and re-comply with Chapters 1 and 2 of the ASX Listing Rules in accordance with ASX Listing Rule 11.1.3 (Re-compliance).

On completion of the Transaction (Completion), the Company will be reinstated as a diversified explorer and developer with a focus on lithium and rare earths. In line with this new direction, the Company sought shareholder approval to change its name to 'Lithium Universe Limited'.

To assist the Company to re-comply with Chapters 1 and 2 of the ASX Listing Rules, the Company planned, subject to obtaining shareholder approval, to undertake a public offer of shares under a full form prospectus (Prospectus) for the issue of up to 225,000,000 fully paid ordinary shares in the capital of the Company (Shares) at an issue price of $0.02 per Share to raise up to $4,500,000 (Public Offer). The Public Offer will be undertaken on a post-Consolidation basis.

*To view The full report, please visit:
https://abnnewswire.net/lnk/SOX1FAS0



About Lithium Universe Ltd:

Lithium Universe Ltd (ASX:LU7), headed by industry trail blazer, Iggy Tan, and the Lithium Galaxy team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd



Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

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