Loyal Lithium Secures $5M Funding for Lithium Projects

Loyal Lithium Limited (ASX:LLI) has successfully secured commitments to raise AU$5 million, with substantial support from Australian and international institutional investors, major shareholders, and professional investors. This capital infusion was achieved through a placement of fully paid ordinary shares at an issue price of AU$0.75 per share. The Placement, which saw strong demand, was executed at a 2% discount to the 10-day Volume Weighted Average Price (VWAP) and aligned with the 20-day VWAP.

The funds raised will be allocated to several key initiatives, including financing the forthcoming drilling campaign at the Trieste Lithium Project, a substantial winter drilling campaign at the Hidden Lake Lithium Project, and general working capital needs. The overwhelming support reflects investors' confidence in Loyal Lithium's portfolio of Canadian hard rock lithium assets.

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