• Lake completed oversubscribed private placement of $4.5 million
• Offer was upscaled from $4 million due to significant demand from current shareholders
• Patersons Securities Limited and Hunter Capital Advisors Pty Ltd were joint lead managers
Lithium exploration company Lake Resources N.L. (ASX:LKE, “Lake” or “LKE”) announces that it has secured commitments to raise $4.5 million (before costs) in an oversubscribed private placement by way of the issue of 33,333,335 new ordinary LKE shares (Offer Shares) at $0.135 per share (Placement) with an attached 1-for-2 option exercisable at $0.20 on or before 15 December 2018 (Attaching Option), to sophisticated and professional investors. The Placement is expected to complete on Monday 26 March 2018.
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