Ann: $4.5 million raised in oversubscribed placement, page-2

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LAKE RESOURCES RAISES $4.5 MILLION
IN OVERSUBSCRIBED PLACEMENT
• Lake completed oversubscribed private placement of $4.5 million
• Offer was upscaled from $4 million due to significant demand from current shareholders
• Patersons Securities Limited and Hunter Capital Advisors Pty Ltd were joint lead managers
Lithium exploration company Lake Resources N.L. (ASX:LKE, “Lake” or “LKE”) announces that it has
secured commitments to raise $4.5 million (before costs) in an oversubscribed private placement by
way of the issue of 33,333,335 new ordinary LKE shares (Offer Shares) at $0.135 per share
(Placement) with an attached 1-for-2 option exercisable at $0.20 on or before 15 December 2018
(Attaching Option), to sophisticated and professional investors. The Placement is expected to
complete on Monday 26 March 2018.
The intention was to raise $4 million but due to significant demand from current shareholders, the offer
was upsized. The Company has agreed to seek quotation of the Attaching Options subject to meeting
the listing requirements under the ASX Listing Rules.
The funds raised through the Placement will be used by Lake for further exploration at its Olaroz,
Cauchari and Paso Lithium Brine Projects, and for ongoing drilling and initial scoping studies at the
Kachi Lithium Brine Project. In addition, a portion of the funds will repay the outstanding notes and for
working capital.
Lake Resources’ Managing Director Steve Promnitz, said: “Lake is grateful for the overwhelming
interest to support exploration over the Olaroz and Cauchari areas as they are immediately adjacent to
high grade lithium production or drill holes with high grades and flow rates.”
Lake’s 100% owned flagship brine projects (covering over 170,000ha), Olaroz/Cauchari/Paso and
Kachi, have similar settings to major world-class brine projects being developed in the highly
prospective Lithium Triangle in Argentina. The Company’s Olaroz/Cauchari Projects are located next
to Orocobre’s Olaroz lithium production project and SQM/Lithium Americas Cauchari development
project. Lake recently signed a landmark agreement with the Jujuy Provincial Government, confirming
tenure of its Olaroz/Cauchari/Paso Projects and allowing Lake to advance exploration efforts for the
first time since their acquisition 2 years ago.
The Company is currently drilling at its Kachi Lithium Brine Project (100% ownership – mining lease).
The Kachi project covers 50,000 Ha over a salt lake south of FMC’s lithium operation and near
Albemarle’s Antofalla Project. Results are expected from April/May onwards.

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Mule