Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce that it has effected payment in full of the C$5 million convertible notes held by AIP Global Macro Fund L.P.
The repayment of the notes is funded from proceeds received from the recently announced strategic collaboration and technology licence agreement with Cornish Lithium Ltd, and the Company’s 2020 R&D tax credit. Following the repayment of the convertible notes, the Company’s assets are unencumbered and it has no further debt with $3.2 million held in cash.
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