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Close-out of Convertible Securities Facility

Lithium explorer and developer Lake Resources NL (ASX: LKE) announces the early close out of a convertible securities funding facility, aimed to drive increased shareholder value, together with a successful capital raising and recent project advances.

The Company has entered into a formal agreement with SBI Investments (PR), LLC, for the early close out of the Convertible Securities funding facility, through a combination of both a cash payment and the issue of shares to SBI (which includes an equity based fee in consideration for the facility’s early termination). 

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