Lake Resources NL Stock Market Press Releases and Company Profile

View in Other Languages Lake Resources NL (ASX:LKE) 扩大《股份认购计划》规模并增加配股的说明 Lake Resources NL (ASX:LKE) SPP upsized and Placement increased with Presentation 
SPP upsized and Placement increased with Presentation
SPP upsized and Placement increased with Presentation

Brisbane, Feb 28, 2020 AEST (ABN Newswire) - Share Purchase Plan (SPP) Upsized Lithium explorer and developer Lake Resources NL (googlechartASX:LKE) (googlechartLK1:FRA) announced today it has upsized the Share Purchase Plan Offer by $1.0 million to raise a total of $2.5 million before costs, due to overwhelming shareholder demand.

The SPP closes today Friday 28 February and subscriptions and funds must be received today as part of the Offer for Eligible Shareholders to subscribe for up to $30,000 worth of new Shares at an issue price of $0.04 per Share. In the event that the SPP is oversubscribed, all participants will be scaled back on a pro-rata basis.

The supplementary prospectus will be lodged today and sets out details of the rights of applicants under the SPP to withdraw their application within one month and be repaid their funds.

Placement Increased The private placement has been increased by $0.55 million before costs, to a total amount of $3.9 million, to accommodate some key sophisticated and professional investors at an offer price of $0.04 per share. This will result in the issue of approximately 14.65 million shares for a total of approximately 99 million new placement shares (refer to announcements of 14,20 and 26 February 2020 for information on prior placement share issues). Settlement is anticipated by Tuesday, 3 March 2020.The supplementary prospectus lodged today which will address these matters with the closing of the Shortfall Offer extended to 4 March 2020. Lake's Managing Director, Steve Promnitz said: "We are very grateful for the positive response from our current shareholders and are pleased to be able to accommodate most of the demand by upsizing the SPP offer.

"The Company is currently marketing in North America, following the significant response from global investors after the announcement that some of the best known successful investors of the global business community are backing our key technology partner."

To view the presentation, please visit:
https://abnnewswire.net/lnk/P45AWBZ9


About Lake Resources NL

Lake ResourcesLake 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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Contact

Steve Promnitz
Managing Director
Lake Resources N.L.
T: +61-2-9188-7864
E: steve@lakeresources.com.au



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