Lion Energy Receives Firm Commitments for $9.6m to Increase Focus on Green Hydrogen Strategy
November 17, 2021 | 4 min read November 17, 2021 | 4 min readHighlights:
- Lion is committed to explore opportunities in green hydrogen in Australia
- Lion receives commitments for $6.1 million from professional and sophisticated investors by way of a placement at 8 cents per share
- A further $3.5 million has been committed under the same terms of the placement via director participation and convertible notes to five key investors, that will convert into shares subject to shareholder approval
- All shares will include a 1:2 option with a strike price of 12 cents per share and an expiry of 30 months from issue date, subject to shareholder approval
- Funds are to be applied mainly towards working capital and exploring business opportunities in green hydrogen in Australia.