Patagonia Lithium Launches A$1.75M Capital Raise

Patagonia Lithium Limited (AU:PL3) has released an update.

Patagonia Lithium Ltd is raising approximately A$1.75 million through a non-renounceable entitlement offer of new shares to fund its drill program in Argentina, Brazilian exploration, and general corporate activities. The offer includes one new share for every three existing shares at A$0.09 each and comes with a bonus option for every two new shares subscribed. However, this offer is exclusive to shareholders in Australia, New Zealand, or China and not to those in the United States or other countries due to regulatory and cost constraints.

For further insights into AU:PL3 stock, check out TipRanks’ Stock Analysis page.