Lithium Universe (ASX:LU7) has announced a pro-rata non-renounceable entitlement issue. Shareholders can purchase 1 new share for every 10 shares held at $0.012 each. This offer is expected to raise up to $982,696 and includes 1 free new option per share applied for, exercisable at $0.03, expiring on January 12, 2026.
Lithium Universe Limited is launching a comprehensive fundraising strategy, which includes a pro-rata non-renounceable entitlement issue and secondary offers through placements to institutional and sophisticated investors. The company aims to raise approximately $982,696 to fund various projects, including the DFS for their Bécancour Lithium Refinery and related costs. Additional funds through secondary offers are expected to reach $2,141,500. The raised capital will support Lithium Universe's strategic goals, focusing on developing lithium processing capabilities in Quebec, Canada. The company acknowledges the risks involved, including market volatility and reliance on key personnel but remains optimistic about its future prospects.
The entitlement offer is a strategic move to support our ongoing projects and future growth. With the funds raised, we aim to advance the DFS for Bécancour Lithium Refinery and cover land option costs, exploration, and corporate expenses.