Lepidico

Well ... Platypus (PLP) has now completed its due diligence and purchased Lepidico, owner of the L-Max technolgy, plus a number global lithium exploration leases and JV's (including Brazil, Quebec, NSW and WA). Lepidico is 13% owned by PWN, with the remainder owned by unlisted Strategic Metalurgy. Both PWN and Strategic share office with LIT. Gary Johnston is a major share owner of PWN and owner of Strategic and will control PLP by virtue of the direct (Strategic) and indirect shares (PWN) he will acquire in the transaction. He will also be a director of PLP. Adrian Griffin LIT CEO is also director of PWN and owns about 8% of PWN and will have an indirect interest and some control in PLP through his PWN holding.

Consideration is 750m PLP shares @ $0.013 = $9.75m. Not sure what percentage of that is for the technology however should soon start to see more work on that once PLP complete a further $3.5m fund raise.

So ... parties friendly to LIT will control it, as was the case already so not too much change here really. Probably just more funding and more activity to come.

Watch this space ...