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Lithium Energy Limited Issues 4M Shares Under Section 708A Cleansing Statement

Lithium Energy Limited (ASX:LEL) has issued 4,000,000 fully paid ordinary shares, priced at $0.30 each, after exercising 4,000,000 Broker Options for a total of $1.2 million on April 9, 2024. This issuance relies on the exemption set out in section 708A(5) of the Corporations Act, avoiding the need for a disclosure document.

Section 708A Cleansing Statement Insights

Lithium Energy confirms compliance with the necessary regulations and discloses no undisclosed information that investors and advisors would require for an informed assessment of the company’s performance and the shares’ value.

Investment and Development Highlights

Lithium Energy is advancing its Solaroz Lithium Brine Project in Argentina and the Burke and Corella Graphite Projects in Queensland, aiming to establish a significant presence in the battery minerals sector. A merger with NOVONIX Limited forms Axon Graphite Limited, paving the way for an IPO focused on Battery Anode Material manufacturing.

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