- Minerals company Infinity Lithium (INF) has entered into a trading halt ahead of an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
- INF shares will be paused until Thursday, February 18, or when more details about the raise are released to the market
- At the end of the December quarter, the company had $4.7 million in the bank
- On the market, INF last traded for 23 cents per share on February 16
Infinity Lithium Corporation (INF) has entered into a trading halt ahead of an upcoming capital raise.
So far, it is unknown how much the company is aiming to raise or where the funds will be spent.
Company shares will be paused until Thursday, February 18, or when more details about the raise are released to the market.
INF is a minerals company who is looking to develop its 75 per cent owned San Jose Lithium Project and produce battery grade lithium hydroxide in Spain.
Over the December quarter, the company spent $98,000 on operating activities and $164,000 on investing activities.
At the end of the period the company had $4.7 million in the bank.
On December 23, INF was granted an investigation permit ampliación a valdeflórez (PIAV) for the San José joint venture entity Tecnología Extremeña del Litio (TEL).
The granting of PIAV provides the legal basis for TEL to retain tenure of the area and the right to investigate the grounds.
On the market, INF last traded for 23 cents per share on February 16.