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Infinity Lithium Corporation secures $1.5 million to complete PFS

The PFS is expected to be complete next month and will build on the November 2018 scoping study that valued the lithium project at up to US$1.017 billion.

sign saying FUNDING
Notably, directors intend to participate and will seek shareholder approval

Infinity Lithium Corporation Ltd (ASX:INF) has received commitments to raise $1.5 million from sophisticated investors in a share placement priced at 7 cents per share.

Funds raised will be primarily used to complete the pre-feasibility study (PFS) on the company’s flagship San Jose Lithium Project in Spain.

The board of directors also intends to participate in the placement to the value of $80,000 and will seek shareholder approval at the August general meeting.

READ: Infinity Lithium sees significant opportunity in European domestic lithium supply chain

Infinity’s chairman Kevin Tomlinson said: “It is pleasing to see commitment from management and the introduction of key European shareholders through this placement.

“I believe this reflects the increasing transition to European based management and financial support as the San Jose Lithium Project develops.

“The placement brings the benefit of funding the company for the next phase of its growth and raising the profile of the company both domestically and internationally.”

Quick facts: Infinity Lithium Corporation Ltd

Price: 0.062 AUD

ASX:INF
Market: ASX
Market Cap: $13.12 m
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Full interview: PFS values Infinity Lithium's flagship San José project at...

Infinity Lithium Corporation Ltd's (ASX:INF) executive director of corporate strategy Vincent Ledoux Pedailles chats to Proactive London's Andrew Scott following the publication of a PFS (pre-feasibility study) for the development of its flagship San José lithium project in Spain. The study...

on 22/8/19

2 min read