Lake Resources NL (LKE.AX) Shareholder bonus issue

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Lake NL Resources

Lake Resources NL (LKE.AX) Shareholder bonus issue

Sydney, Australia, July 28, 2021 – (ABN Newswire) — Clean lithium developer Lake Resources NL (ASX:LKE) (HAM:LK1) (OTCMKTS:LLKKF), in recognition of the support received from its shareholders, would like to inform that it intends to proceed with a free issue of options (Bonus Options) to all shareholders having an address in Australia or New Zealand (Eligible Shareholders) at 5.00 p.m. (Sydney time) on the Record Date (indicated in the indicative timetable below*).

Since the enhanced options will be issued for no consideration, Lake does not collect any capital from their issuance. For every ten (10) shares held at 5:00 p.m. (Sydney time) on the record date, eligible shareholders will receive one (1) free bonus option.

The bonus options will have an exercise price of $0.35 each, expiring on October 15, 2021 and, if exercised, each will result in the allotment and issuance of one (1) fully paid common share of Lake. Lake will not seek to list bonus options on the ASX.

Each Bonus Option, when exercised, will result in the issuance of a second option (Additional Options).

The additional options will have an exercise price of $0.75 each, expiring on June 15, 2022 and, if exercised, each will result in the grant and issuance of one (1) fully paid common share of Lake. Lake intends to seek permission to list and trade the additional options on the ASX.

Lake Chief Executive Steve Promnitz said, “The intent of the offer is to thank the supporting shareholders as Lake enters a major development phase through financing, construction and production. Shareholders appreciated the benefits of a similar bonus option offering in 2019 and the company seeks to repeat this success.”

To check the timetables, go to:
https://abnnewswire.net/lnk/C1A9ME62

About Lake Resources NL:

Lake Resources NL (ASX: LKE) (OTCMKTS: LLKKF) is a clean lithium developer using clean, direct mining technology to develop sustainable high-purity lithium from its flagship Kachi project, as well as three other lithium brine projects in Argentina. The projects are located in a prime location within the Lithium Triangle, where 40% of the world’s lithium is produced at the lowest cost.

This method will enable Lake Resources to be an efficient, responsible, environmentally friendly and competitive supplier of high purity lithium that is easily scalable and in demand by EV and Tier 1 battery manufacturers.

Contact:

Steve Promnitz
General director
+61 2 9188 7864
[email protected]

Anthony Fenson
PR Republic
+61 (0) 407 112 623
[email protected]

Henry Jordan
Six Degrees Investor Relations
+61 (0) 431 271 538

Source:
Lake NL Resources

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