Lepidico Limited (AU:LPD) has released an update.
Lepidico Limited announces a rights issue to raise $5.7 million, aiming to fund their Phase 1 Project, which includes securing a strategic partner and starting construction. The offer includes one new share for every four held at 0.3 cents each, 25% below the last closing price, with a 1 for 2 free attaching option. The capital raised will support the project’s transition into the construction phase and position the company advantageously in the new lithium price cycle.
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