Patagonia Lithium (ASX:PL3) said its 9.4 million fully paid ordinary shares and 5.5 million unlisted options with an exercise price of AU$0.27, which are currently under Australian Securities Exchange restriction, will be released on April 1, according to a Monday Australian bourse filing.

The 5.5 million unlisted options comprise 1.5 million options expiring on Oct. 5, 2 million options expiring on Oct. 10, and 2 million options expiring on March 24, 2026, the filing said.

The company's shares dropped 12% on market close.