ASX:LKE completes oversubscribed capital raise

Monday, February 27, 2017 2:30 AM +00:00

ASX:LKE completes oversubscribed capital rais...0:007:28
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LAKE RESOURCES N.L.
Stephen Promnitz

Lake Resources N.L. (ASX: LKE) (“Lake” or “the Company”) is pleased to announce that it has successfully completed a capital raising of A$1,200,000 (before costs) via a private Placement (“Placement”) with professional, sophisticated and institutional investors. The Placement leaves the Company well funded to continue its aggressive exploration programme in Argentina over both lithium brine projects, and currently under option, lithium pegmatite project. The placement was completed as follows: 1. 24,000,000 fully paid LKE ordinary shares at $0.05 per share (“Shares”); and 2. 12,000,000 options exercisable at $0.10 each and expiring 18 months after date of issue (“Options”). The Placement was significantly oversubscribed and increased to accommodate substantial demand from a broad range of new investors. Lake is grateful for this support and welcomes new shareholders to the register. Proceeds from the Placement will be used to continue the Company’s aggressive exploration programme in Argentina to ensure value and optionality is maximised from its portfolio of lithium exploration assets.


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