LIT said that it wants to ensure that all shareholders have the opportunity to participate.
Adrian Griffin, managing director, commented: “Lithium Australia has maintained a policy of creating real value for shareholders.
"The company has achieved this by fostering shareholder support through bonus issues of contributing shares.
"The currently listed series of contributing shares, LITCE, has traded as high as $0.065 representing a considerable dividend to those shareholders that were eligible for the bonus.
"Lithium Australia recognises it is often difficult for retail investors to take advantage from discounted capital raisings which, in the most part, remain the realm of sophisticated and professional investors.
"This SPP has given participants the opportunity to buy at a discount to market and without brokerage.
"It is a continuation of our policy to reward our very supportive and valued shareholder base.
"We appreciate the response from our loyal shareholders and extend that opportunity."
Lithium Australia portfolio
Lithium Australia has projects in the following jurisdictions:
- Western Australia: The Gascoyne; Pilgangoora; Ravensthorpe; Seabrook; Lepidolite Hill;
Greenbushes; Lake Johnston; and Widgiemooltha projects;
- Northern Territory: Bynoe;
- Queensland: Cape York; and
- Mexico: A 25% interest in the Electra lithium project.
Within these projects the company has various corporate alliances and joint ventures with Pilbara Minerals Ltd (ASX:PLS), Focus Minerals Ltd (ASX:FML), Alix Resources Corp (CVE:AIX), Cazaly Resources Ltd (ASX:CAZ), Tungsten Mining NL (ASX:TGN), Venus Metals Corporation Limited (ASX:VMC) and Lefroy Exploration Ltd (ASX:LEX).