European Lithium Secures Capital Through Strategic Underwriting Agreement

A significant financial deadline has now passed for European Lithium (ASX: EURO), with its listed options expiring today at 5:00 PM AWST. The company proactively addressed this event through a strategic arrangement ensuring capital proceeds of up to A$2.8 million.

On November 12, European Lithium announced a pivotal underwriting agreement with Evolution Capital Pty Ltd. This arrangement guarantees that all unexercised options, which carry an exercise price of A$0.08 per share, will still provide capital to the company.

At the time of the announcement, 35,078,124 options remained outstanding. Evolution Capital has committed to subscribing for any shares not taken up by option holders, thereby securing the full capital inflow of approximately A$2.8 million. The Read more...