Ardiden Completes Capital Raising to Back Canadian Lithium Projects
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Ardiden Ltd has raised $1.25 million through a placement of 48.07 million shares at an issue price of $0.026 each to fund its Canadian lithium projects.
The offer was significantly oversubscribed.
As a result of this placement, Ardiden is fully funded to progress the due diligence drilling program and assessment of the highly prospective Root Lake Lithium Project in Canada.
The funds will also enable Ardiden to fast-track its assessment of the high-quality Seymour Lake Lithium Project, which has already returned highly encouraging drilling results with the intersection of substantial spodumene-bearing pegmatite zones.
Both lithium projects are under option and are located in the mining jurisdiction of Ontario, Canada.
The proceeds of the placement will also be used to progress ongoing exploration activities at the company’s Manitouwadge Jumbo Flake Graphite Project, also located in Ontario, Canada and to provide general working capital.
Source: (April 5, 2016) Proactive Investors
About Ardiden
Ardiden Ltd is building a lithium and graphite project portfolio in Ontario, Canada.
To stop by Ardiden’s website, CLICK HERE
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