Infinity Lithium Corporation Ltd (ASX:INF) has been granted back-to-back trading halts ahead of a capital raising announcement.
The trading halt will remain in place until the start of trading on Tuesday, September 8 or when an announcement is released to the market, whichever occurs earliest.
Transitioning to technical stage
The company is moves into the technical advancement stage of its strategy to deliver battery-grade lithium hydroxide into Europe's 'cleaner' energy future.
This strategy is centred on the company's San José Lithium Project in Spain, a fully integrated industrial project focused on the production of battery-grade lithium chemicals from a mica feedstock that represents the EU’s second-largest JORC-compliant hard rock lithium deposit.
The company is transitioning its executive management team to focus on the technical advancement and delivery of battery-grade lithium hydroxide to facilitate offtake negotiations and development of its in-country management team.
This follows the successful completion of a key funding deal with KIC InnoEnergy SE (EIT InnoEnergy).
Phase one technical work continues to advance at Dorfner Anzaplan’s EU facilities in accordance with funds provided under the agreement with EIT InnoEnergy.