Additional Bonus Options Conversion
Sydney, June 21, 2022 AEST (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (LK1:FRA) (LLKKF:OTCMKTS) is pleased to advise that approximately 96 percent off the Additional Bonus Options issued in November 2021 have been exercised and converted into new LKE shares. The option conversions have provided approximately A$62 million to the cash position of the Company.
Lake's Chairman Mr Stuart Crow said "I would like to thank shareholders for their continued support for the Company. The completion of the option conversion leaves the Company in its strongest ever financial position with in excess of $150 million cash at bank. Lake is now well financed as it advances the Kachi project toward FID and as exploration activity across all other projects is being aggressively accelerated".
About Lake Resources NL
Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.
This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Lake Resources NL