Oceana Lithium to Raise $1.2M for Exploration Ventures

Oceana Lithium Ltd. (AU:OCN) has released an update.

Oceana Lithium Ltd. is set to raise approximately $1.2 million through a non-renounceable entitlement issue, allowing eligible shareholders to purchase two new shares for every three held at $0.022 each. The funds will support exploration projects in Australia and Brazil, identify new opportunities, and cover working capital costs. The offer is fully underwritten by Westar Capital Limited, with the company’s directors committing $145,000.

For further insights into AU:OCN stock, check out TipRanks’ Stock Analysis page.