- Australian-based Lithium Power International (LPI) shares have been placed in a trading halt ahead of an upcoming capital raise
- The lithium explorer and developer confirmed fully paid shares would be made available to institutional investors
- However, no further details regarding the raise’s structure or anticipated use of funding have been announced
- Shares are expected to remain in a trading halt until December 17 or when the company formally announces the capital raise
- The ASX-lister had to recently change tack on its Maricunga joint venture expansions in Chile following a series of socio-politically derived delays
- Lithium Power shares were trading at 25.5 cents ahead of the trading halt
Australian-based Lithium Power International (LPI) shares have been placed in a trading halt ahead of an upcoming capital raise.
The lithium explorer and developer has not made any indication as to how much it hopes to raise or how the funds will be utilised.
The company announcement, however, did confirm fully paid shares would be made available to institutional investors.
Shares are expected to remain in a trading halt until December 17 or when the company formally announces the capital raise, whichever comes earlier.
The ASX lister had plans to develop a larger-scale version of lithium brine project Maricunga by folding it into the state-owned Maricunga Salar project. The plans have now been placed on hold by the company a series of socio-political and COVID-19 derived delays.
LPI will continue on the project’s approved mining concessions.
Lithium Power shares were trading at 25.5 cents ahead of the trading halt.