PERTH (miningweekly.com) – Emerging lithium developer Piedmont Lithium has completed a bookbuild to raise A$16-million to expedite the development of its namesake lithium project, in the US.
The company told shareholders on Monday that some 100-million shares will be placed, at 16c each, to institutional and sophisticated investors in Australia, the US, Canada and the UK.
“We are extremely pleased with the overwhelming demand and strong institutional support received for the placement, which significantly enhances the nature of our register and reflects the quality of our Piedmont lithium project,” said Piedmont president and CEO Keith Phillips.
“The funds will allow us to accelerate our project development plans for what we believe to be the world’s most strategically located lithium project.”