READ: Alliance Mineral Assets Ltd enters strategic placements with Galaxy and Jiangte to raise $32.5 million
The institutional placement with Galaxy will comprise the issue of 112.5 million shares whereas Jiangte will receive 50 million through a conditional placement.
Both placements were not underwritten and were managed and arrangement by Canaccord Genuity who will be issued 6.125 million shares as placement fee.
The listing and quotation of the 168,625,000 new shares on the Catalist Board is subject to compliance with the SGX-ST’s listing requirements.
Alliance had notched up quarterly records for lithium production and shipping totals from the Bald Hill Lithium and Tantalum Mine in Western Australia.
Lithium production for the March 2019 quarter was 68% higher than the previous quarter with 38,291 wet metric tonnes (wmt) of high-grade spodumene concentrate produced grading 6.1% lithium carbonate.