viewInfinity Lithium Corporation Ltd

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: 0.09 AUD

Market: ASX
Market Cap: $25.35 m

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Infinity Lithium agrees European funding deal for San José project

Infinity Lithium Corporation Ltd's (ASX:INF) Vincent Ledoux Pedailles speaks to Proactive London's Andrew Scott following the news they've signed an MoU for a multi-staged investment and assistance package with European Union’s (EU) EIT InnoEnergy. The initial part of the package is an...

on 25/3/20

2 min read