Lake Resources NL (ASX: LKE) Nomination of a candidate for the bonus issue

Appointment of a candidate for the issuance of bonuses

Sydney, August 31, 2021 AEST (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX: LKE) (FR: LK1) (OTCMKTS: LLKKF), ACN 079 471 980, wishes to inform that it has sent a notice to ineligible shareholders today of the previously announced bonus option issuance, which is detailed below.

– Lake appointed a nominee to receive options that would otherwise have been issued to offshore “ineligible shareholders” to facilitate their participation in the issuance of bonus options.

– The bonus options will have an exercise price of $ 0.35 each, expiring on October 15, 2021 and, if exercised, will result in the issuance of a second option (additional options) and each additional option will have a exercise price of $ 0.75 each, expiring June 15, 2022

Lake is pleased to welcome the support of Lodge Partners Pty Ltd (Nominee or Lodge), which has agreed to act as Nominee for the holding and exercise of Bonus Options for offshore or foreign shareholders (“Shareholders Ineligible “), outside the following eligible areas Jurisdictions identified in the prospectus for the issuance of free options, namely Australia, New Zealand and the United Kingdom, Jersey, the Netherlands, the Republic of Ireland, Argentina, Indonesia, Pakistan, Hong Kong and Singapore, which would otherwise have been issued to such ineligible Shareholders, if they had addresses in eligible jurisdictions. These Ineligible Shareholders constitute approximately 2.5% of Lake shareholders on the Registration Date, Thursday, August 24, 2021.

As previously stated in the prospectus for the issuance of bonus options, Lake intended to solicit the appointment of a nominee to receive and exercise the options of ineligible shareholders to which they would otherwise be entitled, to sell the shares and options. additional resulting payments and deliver the proceeds to such Shareholders. Lake has now nominated Lodge as a candidate. As stated above, the Nominee will have absolute and exclusive discretion to determine the price at which the resulting additional shares and options are sold.

Full details are available in the link below:

About Lake Resources NL

Lake resourcesLake Resources NL (ASX: LKE) (OTCMKTS: LLKKF) is a clean lithium developer using clean direct mining 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 occupy a prime location in the Lithium Triangle, where 40% of the world’s lithium is produced at the lowest cost.

This method will allow Lake Resources to be an efficient, responsible, environmentally friendly and competitive supplier of high purity lithium, easily scalable and in demand by manufacturers of electric vehicles and Tier 1 batteries.

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