EverGreen Lithium Issues 25 Million Shares to Bolster Exploration Efforts

The latest announcement is out from Evergreen Lithium Ltd. ( (AU:EG1) ).

EverGreen Lithium has issued 25 million fully paid ordinary shares at $0.05 per share as part of a Share Sales Agreement with U Resource Pty Ltd. This move is in line with the company’s compliance with the Corporations Act, and it highlights EverGreen’s ongoing efforts to strengthen its financial position and support its exploration activities. The issuance of shares without disclosure to investors under the Corporations Act indicates a strategic approach to capital raising, potentially impacting the company’s operations and market positioning.

More about Evergreen Lithium Ltd.

EverGreen Lithium (ASX:EG1) is an exploration company focused on lithium spodumene projects in Australia. It owns three projects: Bynoe, Kenny, and Fortune, located in regions known for lithium pegmatite occurrences in the Northern Territory and Western Australia. The company’s flagship project, Bynoe, is adjacent to Core Lithium’s producing Finniss Project. EverGreen aims to achieve exploration success and identify a world-class discovery while maintaining an ESG focus.

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Technical Sentiment Signal: Sell

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