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Mali Lithium: Raises up to $70M for Morila Gold Mine acquisition

September 9, 2020

Mali Lithium (MLL) is hoping to raise up to $70 million through a two-tranche placement and share purchase plan
Under the first tranche, a total of $7.6 million will raised through the issue of 46 million ordinary shares at 16 cents
Around 352.4 million ordinary shares will issued under the second tranche to raise $56.4 million — however, this is subject to shareholder approval
Under the share purchase plan, Mali plans to raise $6 million at the same issue price as the placement
The funds will go towards the recently announced acquisition of an 80 per cent interest in the Morila Gold Mine in Mali
Company shares have dropped 11.5 per cent and are trading for 17.3 cents