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Below the phrases of the Acquisition Agreements, upon satisfaction of assorted circumstances precedent, the Firm would purchase:
a. an 80% curiosity within the Apollo Lithium Challenge, Adina South Challenge, Adina West Challenge and Margot Lake Challenge (collectively, the Canadian Lithium Tasks); and
b. an 80% curiosity within the Voyager Challenge and a 100% curiosity within the Lefroy Challenge (collectively, the Australian Tasks), (collectively, the Proposed Acquisitions).
The Proposed Acquisitions would quantity to a major change to the character and scale of the Firm’s actions and as such, the Firm was required to acquire shareholder approval underneath ASX Itemizing Rule 11.1.2 at a normal assembly and re-comply with Chapters 1 and a couple of of the ASX Itemizing Guidelines in accordance with ASX Itemizing Rule 11.1.3 (Re-compliance).
On completion of the Transaction (Completion), the Firm might be reinstated as a diversified explorer and developer with a give attention to lithium and uncommon earths. In keeping with this new route, the Firm sought shareholder approval to vary its identify to ‘Lithium Universe Restricted’.
To help the Firm to re-comply with Chapters 1 and a couple of of the ASX Itemizing Guidelines, the Firm deliberate, topic to acquiring shareholder approval, to undertake a public provide of shares underneath a full kind prospectus (Prospectus) for the problem of as much as 225,000,000 absolutely paid peculiar shares within the capital of the Firm (Shares) at a problem value of $0.02 per Share to lift as much as $4,500,000 (Public Provide). The Public Provide might be undertaken on a post-Consolidation foundation.
*To view The complete report, please go to:
https://abnnewswire.internet/lnk/SOX1FAS0
About Lithium Universe Ltd:
Lithium Universe Ltd (ASX:LU7), headed by trade path blazer, Iggy Tan, and the Lithium Galaxy crew has a confirmed observe file of fast-tracking lithium initiatives, demonstrated by the profitable improvement of the Mt Cattlin spodumene mission for Galaxy Assets Restricted.
As an alternative of exploring for the sake of exploration, Lithium Universe‘s mission is to rapidly get hold of a useful resource and assemble a spodumene-producing mine in Quebec, Canada. In contrast to many different Lithium exploration firms, Lithium Universe possesses the important experience and abilities to develop and assemble worthwhile initiatives.
Supply:
Lithium Universe Ltd
Contact:
Alex Hanly
Chief Govt Officer
Lithium Universe Restricted
Tel: +61 448 418 725
E-mail: [email protected]
Iggy Tan
Chairman
Lithium Universe Restricted
E-mail: [email protected]
