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BlackEarth Minerals shareholders pay balance on part paid shares, resulting in $136,000 capital raising

Substantial shareholder Lithium Australia has also paid for their partly paid shares in the company and now holds an 8.47% stake.

BlackEarth Minerals NL - BlackEarth Minerals shareholders pay balance on part paid shares, resulting in $136,000 capital raising
BlackEarth recently signed an MOU with Urbix and an agreement with Luxcarbon to supply graphite concentrate to the US and Europe

BlackEarth Minerals NL (ASX:BEM) has boosted its finances after shareholders fully paid the balance unpaid on 2.28 million BEMPP partly paid ordinary shares in the capital of the company.

The shareholders paid $0.0599 for each BEMAF/BEMAC for a total consideration of $136,572.

Notably, substantial shareholder Lithium Australia NL (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) also paid for its partly paid shares in the company.

This resulted in Lithium Australia increasing its substantial holding by acquiring 1 million new shares in the company for total consideration of $59,900, bringing its total holding to 13,106,571 for a voting power of 8.47%

BEMAF and BEMAC shares

A total of 2.28 million partly paid BlackEarth shares have been fully paid and have become fully paid ordinary shares in the capital of the company.

A total of 19,752,750 BEMAF and 6,110,000 BEMAC remain on issue and a statement will be issued shortly to those shareholders who paid all outstanding amounts on their BEMAF and BEMAC holdings.

The company has also requested that the ASX changes the designation of these 2.28 million shares to the ASX code BEM and reduce the number of BEMAF by 680,000 part paid shares and the number of BEMAC by 1,600,000 part paid shares.

Quick facts: BlackEarth Minerals NL

Price: 0.15 AUD

ASX:BEM
Market: ASX
Market Cap: $25.17 m
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