Infinity Lithium Withdraws from Spanish Grant Program, Returns Funds

Infinity Lithium Corporation Limited ( (AU:INF) ) just unveiled an announcement.

Infinity Lithium Corporation Limited has decided to withdraw from the Spanish government’s PERTE VEC IIa program, which provided a capital funding grant for purchasing capital equipment. The decision comes after the company faced delays in permitting and regulatory processes, making it unlikely to utilize the funds within the required timeframe. As a result, Infinity is returning approximately €19.7 million, including interest, to the Spanish government. This move reflects the company’s strategic response to external challenges and its focus on prudent financial management.

More about Infinity Lithium Corporation Limited

Infinity Lithium Corporation Limited operates in the lithium industry, focusing on the development and supply of lithium chemicals, which are crucial for battery production and the growing electric vehicle market.

Average Trading Volume: 464,223

Technical Sentiment Signal: Sell

Current Market Cap: A$9.92M

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