Originally posted by LawlessLantern
please enlighten us with your vast experience why we should be buying when a CR is imminent clear.png
What's the problem? They NEED dough. It's still very early days. It WON"T be a share issue. In any case, they've only got a 366 million IC.
21 December 2018FINANCING COMMITMENTS FOR LAKE RESOURCES•
LKE has raised A$1 million in an unsecured convertible note.
•
Upsizing a similar financing structure will be considered early in the new year .
Argentine-focused lithium exploration and project development company Lake Resources NL (ASX: LKE)(Lake or the Company) announced today that it has secured commitments to raise A$0.99 million by way ofthe issue of 9,900,000 unsecured convertible notes (Notes)
to sophisticated and professional investors.
The funds received from the issue of the Notes will be used by the Company towards:• accelerating the PFS at Kachi, including resource expansion, and potentially a pilot plant;
• drilling at the Cauchari/Olaroz projects and further exploration at its Paso and CatamarcaPegmatite Projects;
• repaying a portion of the Company’s outstanding short term debt; and
• working capital.
As
the Notes will only be issued to eligible sophisticated and professional investors, the Company does notcurrently intend to issue a prospectus or other disclosure document in relation to the Notes.
However,under the terms of the Notes the Company may elect to do so in the future to facilitate furthertransferability of the Notes.
