$2.25 Million At-the-Market Facility Raise
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| Stock | Lake Resources N.L. (LKE.ASX) |
|---|---|
| Release Time | 11 Apr 2025, 8:42 a.m. |
| Price Sensitive | Yes |
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Lake Resources Raises $2.25M Through At-the-Market Facility
Key Points
- Lake Resources raises $2.25M through At-the-Market Facility
- Funds to strengthen balance sheet and progress strategic priorities
- Shares issued at 4.0c per share, representing a premium to 15-day VWAP
Full Summary
Lake Resources N.L. (ASX: LKE, OTC: LLKKF) has announced that it has utilized its At-the-Market Subscription Agreement ('ATM') with Acuity Capital to raise $2,250,000 (inclusive of costs) by agreeing to issue 56,000,000 Lake fully paid ordinary shares at an issue price of 4.0c per share. The issue price of 4.0c represents a premium to the 15-trading day VWAP of 3.1c to 10 April 2025 (inclusive). Settlement of the transaction is expected to occur on or before 14 April 2025. The funds will be used to strengthen the Company's balance sheet as it continues progressing its ongoing strategic priorities for the Kachi project and for working capital.
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