Global Lithium Resources Launches $121.5m cap raise ahead of Manna acquisition
- Global Lithium Resources (GL1) launches a $121.5 million capital raise to acquire the remaining 20 per cent interest in the Manna lithium project in WA
- The company will acquire the remainder of the project from Breaker Resources for $60 million and Breaker will have a 1.5 per cent net smelter royalty on some minerals
- In addition to the consideration, proceeds from the capital raise will go towards planned exploration work at Manna as well as the Marble Bar lithium project
- Global Lithium Resources expects to be fully funded through to the completion of a feasibility study for Manna which is currently scheduled for H2, 2023
- Shares in Global Lithium last traded at $2.61 on October 24
