CleanTech Lithium Raises £400,000 Through Broker Option
Why we think this is good
The equity raise by CleanTech Lithium at the current market price is a positive sign, indicating strong investor demand and confidence in the company's prospects. The relatively small raise amount suggests the company may need to raise additional funds in the future, but the fact that it was able to do so without offering a significant discount is a good outcome for existing shareholders.
Key Points
- CleanTech Lithium raises £400,000 through broker option
- Broker option shares issued at same price as previous placing
- Funds to be used to advance Laguna Verde lithium project in Chile
- Relatively small raise amount, but positive that no discount was required
Summary
CleanTech Lithium has raised £400,000 through the exercise of a broker option, which will be in addition to the £4.3 million raised previously. The broker option shares were issued at the same price as the previous placing, indicating strong investor demand and confidence in the company's prospects. The funds will be used to advance the Laguna Verde lithium project in Chile. While the raise amount is relatively small compared to the company's market capitalization, it is a positive sign that the company was able to raise funds at the current market price without having to offer a significant discount.