LKO.ASX Announces $8.7M Capital Raise
Key points
- $4.0M non-underwritten placement to institutional investors
- $4.7M partially underwritten entitlement offer for shareholders
- Funds to advance the Wombat Project
- Mr. Boyd White resigns, Mr. Hugh Walter Robertson appointed
Full summary
Lakes Blue Energy NL (ASX: LKO) has announced a capital raising of approximately $8.7 million to fund its Wombat Project. The capital raising will consist of a $4.0 million non-underwritten placement and a $4.7 million partially underwritten entitlement offer. The entitlement offer will be open from August 7, 2026, to August 18, 2026. Additionally, Mr. Boyd White has resigned from the board, and Mr. Hugh Walter Robertson has been appointed as a non-executive Director.
Guidance
Lakes Blue Energy NL plans to raise approximately $8.7 million.
Outlook
The capital raised will be used to advance the Wombat Project, aiming for near-term cash flow opportunities.
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