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Lithium Universe Limited (ASX:LU7)

ALERT: Price-sensitive ASX Announcement for LU7
Current share price for LU7 : $0.005 -0.001 (-16.67%)+
Announcement
Release
24 Aug 2026 1:16PM
Price at Release
$0.006
Full Release
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Summary
Lithium Universe Limited successfully completed the settlement of Tranche 1 of its share placement, raising A$848,452 through the issuance of 242,415,000 new shares at A$0.0035 each. The funds are intended to support working capital and advance initiatives like the Brownsville Lithium Refinery Project, silver extraction from PV recycling, and gold and copper recovery technologies. Tranche 2, subjected to shareholder approval, is expected to close in September 2026, contributing an additional A$51,548. The company also aims to issue shares to 62 Capital in satisfaction of lead manager fees, with options for further shares. A Cleansing Statement ensures shares are eligible for immediate trading. Shareholder approval will be sought in an upcoming meeting.
Key Points
  • Successful settlement of Tranche 1 of the share placement, raising A$848,452.
  • Tranche 2 of the placement, subject to shareholder approval, to be completed in September 2026.
  • Funds to be used for working capital and advancing key projects.
  • Tranche 1 consists of 242,415,000 fully paid ordinary shares issued under ASX Listing Rule 7.1.
  • Tranche 1 shares issued at A$0.0035 each, with an entitlement of one New Option for every two New Shares.
  • Tranche 2 aims to issue 14,727,858 New Shares at A$0.0035 per share.
  • Additional 15,428,572 New Shares allocated to 62 Capital as a fee, with options for further shares.
  • Cleansing Statement issued for secondary trading eligibility.
  • Advancement of Brownsville Lithium Refinery, solar panel recycling, and gold and copper recovery technologies.
  • General shareholder meeting expected in September 2026 for approval.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.