Liontown Resources (ASX:LTR) has received firm commitments for an $18 million capital raising to underpin the continued exploration and development of its wholly-owned Australian lithium projects.
Following completion of the Capital Raising the Company’s flagship Kathleen Valley LithiumTantalum Project in Western Australia will be fully-funded through to completion of a Definitive Feasibility Study in 2020.
The Capital Raising has been joint lead managed by Bridge Street Capital Partners, Taylor Collison Securities and Bell Potter Securities. Bridge Street Capital Partners was the sole bookrunner.
Shares in Liontown Resources (ASX:LTR) are trading 7.1 per cent lower at 13 cents.