Sydney, June 21, 2022 AEST (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX: LKE) (EN:LK1) (OTCMKTS: LLKKF) is pleased to report that approximately 96% of the additional bonus options issued in November 2021 have been exercised and converted into new LKE shares. Option conversions contributed approximately A$62 million to the Company’s cash position.
Lake Chairman Mr. Stuart Crow said, “I would like to thank shareholders for their continued support of the company. The completion of the options conversion leaves the company in its strongest financial position ever with over $150 million in cash in the bank. Lake is now well funded as it advances the Kachi project to FID and exploration activity in all other projects aggressively ramps up.”
About Lake Resources NL
Lake NL Resources (ASX: LKE) (OTCMKTS: LLKKF) is a clean lithium developer using clean, direct extraction technology for the development of sustainable high-purity lithium from its flagship Kachi project, as well as three other lithium brine projects in Argentina . The projects are located in a prime location within the Lithium Triangle, where 40% of the world’s lithium is produced at the lowest cost.
This method will enable Lake Resources to be an efficient, responsible, environmentally friendly and competitive supplier of high purity lithium that is easily scalable and in demand by EV and Tier 1 battery manufacturers.
Lake NL Resources