• Raised $2.46 million from Tranche 1 share placement
• Tranche 2 placement of $0.04 million subject to shareholder approval
• Placement proceeds to fund lithium refinery and solar panel recycling initiatives

Lithium Universe Limited (ASX: LU7) has announced the successful settlement of Tranche 1 of its share placement to sophisticated and professional investors, raising $2.46 million. The placement comprised 153,750,000 fully paid ordinary shares issued at $0.016 per share. In addition, the Tranche 1 investors will be entitled to one new option for every four shares subscribed, with an exercise price of $0.008 and expiring on 7 August 2028, subject to shareholder approval. The company also issued 9,375,000 shares to 62 Capital (or its nominees) at a deemed issue price of $0.016 per share, in satisfaction of the fee payable under the Lead Manager Mandate. These shares were issued under the company's existing capacity under ASX Listing Rule 7.1. Additionally, 62 Capital (or its nominees) will be entitled to one new option for every four shares issued, subject to shareholder approval. Tranche 2 of the placement, comprising 2,500,000 shares at $0.016 per share, is subject to shareholder approval and is expected to be completed in December 2025. The company will seek shareholder approval at an upcoming general meeting. The funds raised will be used to advance Lithium Universe's strategic initiatives, including the development of a green, battery-grade lithium carbonate refinery in Bécancour, Québec, and the pioneering of valuable metal recovery from discarded solar panels.

Lithium Universe is well-positioned to play a pivotal role in reducing North America's dependence on foreign lithium supply chains through its planned lithium refinery. The company is also focused on developing sustainable solutions for solar panel recycling, aiming to recover valuable metals such as silver.