Lithium Universe (ASX: LU7) extends closing date of $3Mn share purchase plan - Kalkine Media

March 27, 2024 11:52 AM AEDT | By Sonal Goyal

Lithium Universe (ASX: LU7) extends closing date of $3Mn share purchase plan — Image source: Pixabay

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Highlights

Closing date of the share purchase plan (SPP) has been extended by one week.

Revised date is 10 April 2024.

Directors have expressed interest to participate in the SPP.

The funds would advance the company’s Quebec Lithium Processing Hub strategy.

Lithium Universe Limited (ASX: LU7) has revised the closing date of the recently announced share purchase plan (SPP), originally announced to ASX on 13 March 2024. Through the SPP, the company aims to raise up to AU$3 million to advance its Quebec Lithium Processing Hub (QLPH) strategy.

LU7 has marked a major development concerning its QLPH strategy. To know more, read here.

The decision to extend the closing date of the SPP was made after receiving feedback from several shareholders who expressed difficulty in taking up the entitlement. This difficulty was attributed to the original closing date falling just after the Easter holiday break. In response to shareholder feedback, the closing date of the SPP has been extended by one week, ensuring that all eligible shareholders have ample time to participate.

As a result of this development, the SPP is now scheduled to close on 10 April 2024 with shares to be issued on 17 April 2024.

LU7 has announced that all eligible directors of the company intend to participate in the SPP.

LU7 shares traded at AU$0.021 apiece at the time of writing on 27 March 2024.

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