European Lithium cap raise to finalise Austrian Project

Company News

by Jessica Amir

European Lithium (ASX:EUR) is undertaking a $2 million capital raising, mainly with European sophisticated investors at a price of 5 cents per share.

The lithium company plans to use the funds to finalise its Austrian Wolfsberg Lithium Project.

The placement is not underwritten but Sommers and Partners and Wimmer Financial are acting as the corporate financial advisers on the placement.

The company chose to offer the placement to professional and sophisticated so the funds were received in a timely manner.

Shares in European Lithium (ASX:EUR) are trading 3.45 per cent lower to 5.6 cents.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.