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Kalkine Media ASX Share Market News & Research
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Lithium Universe (ASX:LU7) to drive Québec Lithium Strategy forward with SPP completion - Kalkine Media

April 15, 2024 02:25 PM AEST | By Team Kalkine Media
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Lithium Universe (ASX:LU7) to drive Québec Lithium Strategy forward with SPP completion
Image source: LU7 ppt

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Highlights

  • Lithium Universe Limited has raised AU$463,500 through a share purchase plan (SPP).
  • LU7 aims to strengthen its position in the lithium space, backed by access to prime mining regions in Canada and Australia.
  • Proceeds from the SPP will propel LU7's Québec Lithium Processing Hub (QLPH) strategy, targeting the North American battery material supply.

Lithium Universe Limited (ASX: LU7) has successfully closed an SPP with applications for 23,175,000 fully paid shares, raising a total of AU$463,500. The SPP, announced on 13 March 2024, was closed on 10 April 2024.

LU7 aims to solidify its position as a major developer of lithium projects by focusing on the rapid and effective advancement of its projects. The company has access to notable lithium prospects situated in prime mining regions in Canada and Australia.

  • Apollo Lithium Project (80%)
  • Adina South & Adina West Lithium Project (80%) 
  • Margot Lake Lithium Project (80%)
  • Lefroy Lithium Project (100%)
  • Voyager Rare Earth Project (80%)

Funds generated from the SPP will support the company's Québec Lithium Processing Hub (QLPH) strategy. This strategy involves constructing a lithium concentrator and a refinery in Canada, aimed at closing the lithium conversion gap in North America.

At the time of writing this article, (Monday, 15 April 2024), share price of LU7 was AU$0.026, up 23.8% from the last close.

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