Lithium Universe Ltd Completes First Tranche of Share Placement
Key points
- Successful completion of Tranche 1 raising $848,452
- Tranche 2 expected in September, raising $51,548
- Funds to be used for working capital and key projects
Full summary
Lithium Universe Limited (ASX:LU7) has successfully settled the first tranche of its share placement to sophisticated and professional investors, raising $848,452 before costs. The placement comprised 242,415,000 fully paid ordinary shares issued at A$0.0035 per share. Subject to shareholder approval, Tranche 2, comprising 14,727,858 shares, is anticipated to be completed in September 2026, raising an additional $51,548. The funds will be applied to working capital and advancing key growth initiatives, including finalizing the PFS for the Brownsville Lithium Refinery Project and progressing the Silver Extraction PV Recycling and Gold Copper Diamide Extraction projects.
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