Ann: Successful Completion of A$12.4 million Placement, page-7

Will have to wait till 27, Friday to see if there is going to be any heavy flipping from the C/R. Take a few weeks to wash

Undervalued by at least 100%

The last paragraph is extremely encouraging . Feels like some pressure is on Mitsui to make a move. GOOD


Lithium Power International Limited (ASX:LPI) (“LPI” or the “Company”) is pleased to announce the completion of a placement of new, fully paid ordinary shares to existing and new sophisticated and institutional investors to raise gross proceeds of $12.4 million (“Placement”). Funds raised from thePlacement will be used for ongoing funding for Minera Salar Blanco (“MSB”) in the development of the Maricunga Lithium Brine Project (“Maricunga”) and for renewed exploration programs at the Greenbushes Project and other possible targets in Western Australia.



The Company continues to work with Mitsui & Co. Ltd. on its due diligence, along with process testing of samples of Maricunga brine in its Japanese facility. It is expected that the existing non-binding MOU, announced to the ASX on 11 May 2021, will progress to be binding in Q1 2022. The Company is also pleased to advise that it is in discussions with several other potential international partners to take a financial position, with both debt and/or equity, in the development of the project.In addition to continued development at Maricunga, the Company will progress with its exploration program in the Greenbushes Project area. Preparatory work is currently being undertaken, with a 2,900-metre drilling program being planned in Q4 2021. In addition, the Company is considering expanding its holdings in Western Australia.


LPI’s Chief Executive Officer, Cristóbal Garcia-Huidobro, commented:“The successful completion of the A$12.4 million Placement is important for a number of reasons, not the least being the calibre of new investors now on our share register. The ongoing support of existing shareholders adds considerably to our strong base ahead of the Maricunga project development decision.We are also working closely with a number of large, international institutions to partner us in the final development of Maricunga. The quality of these potential partners is very encouraging.