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- Lithium Power International (LPI) enters a trading halt while it plans and finalises the details of a capital raise
- The lithium company is yet to provide any information regarding the raise but expects the details will be revealed by Monday, September 12
- In June, Lithium Power released its plans to consolidate 100 per cent ownership of the Maricunga brine project in Chile via a three-party-all-scrip merger
- The company currently owns 51.55 per cent and will purchase the remaining interest from its joint venture partners, Minera Salar Blanco and Bearing Lithium
- Shares in LPI last traded at 69.5 cents on September 7
Lithium Power International (LPI) has entered a trading halt while it plans and finalises the details of a capital raise.
The lithium company is yet to provide any information regarding the raise but expects the details will be revealed by Monday, September 12.
The company had recently received ministerial approval for the transfer of two granted tenements in the Eastern Goldfields region of Western Australia to Western Lithium.
All other contractual arrangements are in the process of being assigned to Western Lithium.
In June, Lithium Power released its plans to consolidate 100 per cent ownership of the Maricunga brine project in Chile via a three-party-all-scrip merger.
The company currently owns 51.55 per cent of the project and will purchase the remaining interest from its joint venture partners, Minera Salar Blanco and Bearing Lithium.
This will increase shareholder interest to around 57.9 per cent and will simplify decision making to accelerate the project’s development.
LPI said it would also become easier to access funding as capital can be sourced from a wider range of providers before a final investment decision.
Shares in LPI last traded at 69.5 cents on September 7.
