Lithium Universe Limited (ASX:LU7)

Lithium Universe Limited (ASX: LU7) has announced a successful capital raise of $0.9 million through a placement of shares. The placement will be conducted in two tranches, with Tranche 1 involving the issuance of 242,415,000 shares, raising $848,452, and Tranche 2 issuing 14,727,858 shares, raising $51,548, subject to shareholder approval in September 2026. The placement price is set at $0.0035 per share, which is a significant discount compared to the market price. Funds from the placement are aimed at advancing key projects such as the Brownsville Lithium Refinery Project and initiatives in silver extraction and recycling. The placement is managed by 62 Capital Pty Ltd, and participants will receive options exercisable at $0.008, expiring in 2028, contingent on shareholder approval. The company is committed to developing sustainable solutions and strengthening the lithium supply chain in North America.