Strong demand $30Million capital raise

ASX-listed European Lithium has upsized its $20 million equity raise by another $10 million following strong demand. Its broker Evolution Capital was crossing investors on Monday night, seeking buyers for new shares at 13¢ each. Street Talk. Jim RiceThe deal was structured as a placement to raise $20 million with room for up to another $6 million in over subscriptions. Placement shares were offered with an attached option, on a one for two basis, exercisable at 18¢ and expiring in three years. On Tuesday afternoon, Evolution said it would take another $10 million, bringing European Lithium’s total raise to $30 million. Proceeds would be used to acquire land, for drilling and project development, according to terms sent to potential investors on Tuesday morning.