Proposed fundraise of approximately US$60 million to fully-fund the construction of Stage 1 of the Sonora Lithium Project in Mexico
Bacanora Lithium plc (AIM:BCN), a lithium development company, is pleased to announce a proposed issuance of new ordinary shares in the Company ("New Ordinary Shares") at a price of 45p per New Ordinary Share (the "Placing Price") to raise gross proceeds of approximately US$60 million, comprising (i) a placing (the "Placing") of New Ordinary Shares to eligible institutional and professional investors (the "Placing Shares"), (ii) concurrent private placements of New Ordinary Shares in certain other jurisdictions and (iii) the Retail Offer (as defined below) (together "the Fundraising").