Secures Further Funds to Accelerate DFS
Brisbane, Sep 22, 2020 AEST (ABN Newswire) - Clean lithium developer Lake Resources NL (
ASX:LKE) (LK1:FRA) (LLKKF:OTCMKTS) announced today it has secured further funds by having utilised its Controlled Placement Agreement ("CPA") with Acuity Capital to raise $900,000 (inclusive of costs) by agreeing to issue 15 million LKE shares to Acuity Capital at an issue price of $0.06.
The issue price of $0.06 is marginally above the 15 trading day VWAP of $0.0593 to 21 September 2020 (inclusive).
The funds raised will be used, together with other funds on hand, towards accelerating the Definitive Feasibility Study (DFS) for the development of Lake's Kachi Lithium Brine Project, general exploration and working capital.
About Lake Resources NL
Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.
This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.
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