Lake Resources (ASX:LKE) raised nearly AU$2.3 million by utilizing its at-the-market subscription agreement with Acuity Capital, according to a Friday filing with the Australian bourse.
As part of the transaction, Lake Resources agreed to issue 56 million ordinary shares at AU$0.04 each, representing a premium to the 15-day volume-weighted average price of the company's shares to Thursday.
Settlement is expected on or before April 14.
Funds will be used to boost the company's balance sheet.
Lake Resources' shares were up over 3% in recent trade.
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