Winsome raises cash for Canada lithium project
Lithium explorer and developer Winsome Resources has secured firm commitments to raise A$7.84-million through an institutional share placement as it advances its Adina lithium project in Quebec.
The company has also launched a share purchase plan to allow existing shareholders to participate in the capital raise.
The funds raised will be used to extend Winsome’s option to acquire the Renard diamond mine, processing facility and associated infrastructure from Stornoway Diamonds and 11272420 Canada.
Winsome has amended its agreement with the vendors to extend the call option on Renard until August 31, 2025, at a cost of C$8.5-million.
The company is also progressing feasibility studies for the Adina project, which it describes as one of the largest and fastest-growing lithium deposits in North America.
Winsome MD Chris Evans said the additional funds strengthened the company’s financial position and provided a clear pathway to production. He noted that Winsome’s portfolio included both a significant lithium asset and an exclusive option over the billion-dollar Renard operation, which could provide strategic infrastructure benefits.
GM for Canada, Carl Caumartin, highlighted the strong investor interest in Winsome’s vision to integrate into the North American electric vehicle supply chain. He said the company remained committed to developing Adina as a key lithium project in the region.
Beyond project development, Winsome is also investigating CO2 removal opportunities as part of its broader sustainability strategy. The funds will also support general working capital requirements and the costs associated with the capital raise.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Acufill is the Southern African distributor of internationally recognised FLUX pump technology, offering drum and container emptying pumps,...
VISIT SHOWROOM
For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
