Issue of Placement shares and Options
Core has also issued 500,000 unquoted options as consideration for investor relations services to Cannings Purple. The unquoted options have an exercise price of $0.10 and expiry of 9 May 2020 and have been issued under the Company's 15% placement capacity under Listing Rule 7.1.
An Appendix 3B seeking quotation of the shares is attached to this announcement (see link below).
To view the release, please visit:
About Core Lithium Ltd
Core Lithium Ltd (ASX:CXO) is an emerging lithium producer focused on development of its Finniss Project near Darwin in the Northern Territory. Core owns 100% of Finniss, a major developing project that lies close to existing infrastructure such as the Darwin Port, grid power, gas and rail infrastructure.
The Finniss Project covers a 500km2 tenement holding and 25 historic pegmatite mines. The project area is about 80km from Darwin Port. Exploration work has generated a near term development timeline, with feasibility studies to be completed over the course of 2018 ahead of receipt of approvals in early 2019 and planned first production during 2019.
An aggressive exploration program is under way, which has confirmed the high quality prospectivity across much of the Finniss Project area. Core's stated ambition is to upgrade Finniss' resource base to fast-track commercialisation options.
Core Lithium Ltd