Lepidico Ltd (ASX: LPD) (Lepidico or the Company) is pleased to advise that it has successfully raised A$600,000 (after costs) through the set-off of 23,100,000 collateral shares (Set-off Shares) previously issued to Acuity Capital under the Controlled Placement Agreement (CPA) – see announcements on 23 December 2019, 19 April 2021 and 27 January 2022. The Set-Off Shares reduces the total collateral shares to 72,900,000 which Acuity Capital is otherwise required to return to the Company upon termination of the CPA. The Set-Off Shares have a deemed price of $0.026, being a 5.48% premium to the 15-day VWAP.
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