Core Lithium Ltd (ASX:CXO) has closed its $1.5 million share purchase plan (SPP) early after receiving strong support with applications in excess of $2.1 million.
The SPP closed at 5pm on Thursday, June 11, 2020, and was previously planned to close on June 18, 2020.
This follows a successful placement last month to institutional and sophisticated investors to raise a total of $5.5 million before costs and the recently secured first European offtake MoU for the Finniss Lithium Project in the Northern Territory.
Updated schedule
The updated timetable for the SPP includes:
- Announcement of results of the plan on Tuesday, June 16, 2020;
- Issue of new shares under the plan on Monday, June 22, 2020; and
- Despatch of holding statements on Tuesday, June 23, 2020.
The company is now well-financed to move forward to the next phase of resource growth at Finniss as well as advancing offtake and project financing discussions.