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Rapid Lithium Limited (ASX:RLL)

ALERT: Price-sensitive ASX Announcement for RLL
Current share price for RLL : $0.003 -0.001 (-25%)+
Announcement
Release
18 Feb 2025 8:46AM
Price at Release
$0.004
Full Release
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Summary
Rapid Lithium Limited has announced the successful placement of the shortfall from its recent Non-Renounceable Entitlement Issue, securing commitments for AUD$1 million, which includes 250 million shares priced at $0.004 each, and 375 million attaching options. The funds will support exploration in Canada and the USA, particularly related to new Gallium Germanium assets being acquired and ongoing lithium projects. The settlement is set for February 24, 2025, and participation from a major shareholder is subject to shareholder approval.
Key Points
  • Rapid Lithium Limited announced the placement of entitlement issue shortfall.
  • The shortfall raised AUD$1 million with 250 million shares at $0.004 each.
  • 375 million options were also issued at an exercise price of $0.017.
  • Funds are allocated for exploration on new assets in Canada and USA.
  • Settlement of shares and options is expected on February 24, 2025.
  • Strata Holdings plc, a major shareholder, will participate pending 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.