Cleansing Notice:

ASX:CXO Announcement 17 August 2021
Shares issued under Institutional Placement
Notice under section 708A(5)(e) of the Corporations Act 2001

This notice is given by Core Lithium Ltd (ABN 80 146 287 809) (the Company) under section 708A(5)(e) of the Corporations Act 2001 (Corporations Act).

The Company today issued 293,146,659 fully paid ordinary shares (Shares) at an issue price of A$0.31 per Share to institutional and professional investors under the institutional placement announced on 9 August 2021.

The Company advises that:
(a) the Shares were issued without disclosure to investors under Part 6D.2 of the Act;

(b) this notice is being given under section 708A(5)(e) of the Act;

(c) as a disclosing entity, the Company is subject to regular reporting and disclosure obligations;

(d) as at the date of this notice, the Company has complied with:

(i) the provisions of Chapter 2M of the Act, as they apply to the Company; and

(ii) section 674 of the Act; and

(e) as at the date of this notice, there is no information that is “excluded information” within the meanings of sections 708A(7) and 708A(8) of the Act.

This announcement has been authorised for release to ASX by the Board of Directors of the Company.

For further information please contact:
Stephen Biggins Managing Director
Core Lithium Ltd
+61 8 8317 1700 info@corelithium.com.au
For Media and Broker queries:
Fraser Beattie
Account Manager
Cannings Purple
+61 421 505 557 fbeattie@canningspurple.com.au

Core Lithium application for quotation of securities:

Number of +securities to be quoted
293,146,659

At an issue price of  AUD 0.31000000

In a letter from the chairman (13 August, 2021)

it opened with:

"Core Lithium Ltd Share Purchase Plan
On 9 August the board of directors (Board) of Core Lithium Ltd (ACN 146 287 809) (Company) announced a $140 million equity raise to fund development of the Finniss Lithium Project. The equity raise comprises a:
• fully underwritten placement to sophisticated and professional investors to raise $91 million at a price of $0.31 per Share;
• share subscription agreement with Ganfeng Lithium to raise $34 million at $0.338 per Share; and
• share purchase plan to raise up to $15 million at $0.31 per Share."

IMPACT:

This has led to Core's price being driven down.

Core Lithium announcement:

Share Purchase Plan.

On 9 August the board of directors (Board) of Core Lithium Ltd (ACN 146 287 809) (Company) announced a $140 million equity raise to fund development of the Finniss Lithium Project. The equity raise comprises a:
• fully underwritten placement to sophisticated and professional investors to raise $91 million at a price of $0.31 per Share;
• share subscription agreement with Ganfeng Lithium to raise $34 million at $0.338 per Share; and
• share purchase plan to raise up to $15 million at $0.31 per Share.

Lithium on the rise:
https://www.afr.com/street-talk/boa-canaccord-in-core-lithium-deal-strategic-nabs-stake-20210809-p58h9i

I do not have a subscription to this is not the whole article and therefore not the full picture.

the company has posted this video on their YouTube channel:

https://www.youtube.com/channel/UC-nh4T8iltxk6Zb63vIla2Q
 

They also held their investors webinar last week which has been posted to their channel as well:

https://youtu.be/va4y-mU_oRc
 

What are your thoughts on Core Lithium? 

Disc: I have a buy order in under the current close price and weekly low. I am keen to hold shares in Core Lithium for the right price which in my view is where I have my buy order.