Lake Resources NL Stock Market Press Releases and Company Profile

View in Other Languages Lake Resources NL (ASX:LKE) 融资扩大及公司通告 Lake Resources NL (ASX:LKE) Funding Facility Extension and Cleansing Notice 
Funding Facility Extension and Cleansing Notice
Funding Facility Extension and Cleansing Notice

Brisbane, Oct 24, 2019 AEST (ABN Newswire) - Lithium explorer and developer Lake Resources NL (googlechartASX:LKE)(googlechartLK1:FRA) announced in February 2019 that it had secured a two-tranche funding facility to provide bridging capital for project development and exploration activities for the Company's 100%-owned lithium brine projects in Argentina (refer ASX announcement 28 February 2019).

The second tranche of this facility, an additional $1.5 million (Second Investment Amount), has been provided to Lake under the terms of the facility with the continued support of the current provider, SBI Investments (PR), LLC, who has subscribed for convertible notes in the Company. Amvest Capital Inc (through Mann Mann Jensen Partners LP) acted as North American placement agent.

Funds are being used to fast track the direct extraction pilot plant test work and commissioning, firstly in California, before the first modules depart for the company's 100%-owned Kachi Project in Argentina, as well as for PFS support and general working capital purposes. As the securities will only be issued to a professional investor, the Company does not intend to issue a prospectus or other disclosure document in relation to the Notes. The Company will utilise its available capacity to issue equity securities under ASX Listing Rule 7.1 for the issue of the Securities.

Lake's Managing Director, Steve Promnitz said: "Construction of the pilot plant to test direct extraction of lithium brines from the Kachi brine project in Argentina is well advanced. Our plan is to firstly test larger volumes of brines sourced from the Kachi project at Lilac's facilities in California before we re-locate the first modules to site in Argentina. We anticipate a steady stream of news as we advance the pilot test program, and we are still on track for the first modules to be on site early next calendar year.

For more information, please visit:
https://abnnewswire.net/lnk/QA2AS1CA


About Lake Resources NL

Lake ResourcesLake Resources NL (ASX:LKE)  (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

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Contact

Steve Promnitz
Managing Director
Lake Resources N.L.
T: +61-2-9188-7864
E: steve@lakeresources.com.au



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