Lake Resources Secures AU$3 Million Through Acuity Capital Share Placement

MT Newswires Live05:52

Lake Resources (ASX:LKE) secured AU$3 million through its at-the-market subscription agreement with Acuity Capital, agreeing to issue 67.5 million fully paid ordinary shares at AU$0.0445 each, a 4.6% premium to its 15-day volume-weighted average price, according to an Australian bourse filing on Thursday after market hours.

The funds will be used for operating and general corporate expenditures to advance activities at Lake's Kachi Project, including the optimization of commercial power solutions, continuation of strategic processes, and commencement of front-end engineering and design for the construction phase, per the filing.

The funds are expected to be paid on Friday, the filing said.

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