Askari requests securities trade halt ahead of strategic investor announcement


Askari Metals has requested a securities trade halt until March 23, pending an announcement about a strategic investment by a global tier-1 lithium battery materials and cobalt supplier.

The Australian company is exploring and developing the Uis Lithium mine in Namibia. It also is actively exploring for gold, copper and silver.

The company announced on March 20 that the trading halt is to enable the completion of the execution process of the subscription agreement and finalisation of the requirements for mutual release by both the unnamed strategic investor and Askari Metals.

"The trading halt will allow the company to complete a separate institutional-led private placement. The funds raised from the Strategic investment and institutional placement will enable the company to accelerate the ongoing aggressive exploration and development programs at the Uis Lithium Project located in Namibia," the statement said. 

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