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 * DESOTO RESOURCES LIMITED
 * EMPIRE ENERGY GROUP LTD
 * VERTEX MINERALS LIMITED
 * AXEL REE LIMITED
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 * ARROW MINERALS LTD
 * HORIZON MINERALS LIMITED
 * SAYONA MINING LIMITED
 * GREAT WESTERN EXPLORATION LIMITED
 * RESOURO STRATEGIC METALS INC.
 * DESOTO RESOURCES LIMITED
 * EMPIRE ENERGY GROUP LTD
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LAKE RESOURCES NL (ASX:LKE) AMENDMENT AND EXTENSION OF AGREEMENT WITH CITI AND
JP MORGAN

  

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#Financial General#Mining#Lithium

Amendment and Extension of Agreement with Citi and JP Morgan


SYDNEY, JAN 30, 2024 AEST (ABN NEWSWIRE) - LAKE RESOURCES NL (ASX:LKE) (LK1:FRA)
(LLKKF:OTCMKTS) IS PLEASED TO ANNOUNCE THAT IT HAS AMENDED AND EXTENDED ITS
ENGAGEMENT AGREEMENT WITH CITIBANK N.A. ("CITI") AND J.P. MORGAN, TO SERVE AS
JOINT COORDINATORS ("JCS") FOR PROPOSED DEBT FINANCING FOR THE GLOBALLY
SIGNIFICANT KACHI LITHIUM BRINE PROJECT IN ARGENTINA. THE ORIGINAL ENGAGEMENT
AGREEMENT WAS SIGNED IN JUNE 2022 (REFER TO ASX RELEASE DATED 17 JUNE 2022).

THE AMENDMENT AND EXTENSION TO THE BANK ENGAGEMENT ADDRESSES THE NEW DEVELOPMENT
TIMELINE FOR THE KACHI PROJECT. AS DISCLOSED IN THE KACHI PROJECT PHASE ONE
DEFINITIVE FEASIBILITY STUDY ("DFS"), THE NEW PROJECT TIMELINE INDICATES THAT
FINANCIAL INVESTMENT DECISION ("FID") IS TARGETED FOR THE FIRST QUARTER OF 2025,
WITH FIRST LITHIUM PRODUCTION EXPECTED IN LATE 2027 (REFER TO ASX RELEASE DATED
19 DECEMBER 2023).

IMPORTANTLY, WE CONTINUE TO ENGAGE WITH AND RECEIVE SUPPORT FROM EXPORT CREDIT
AGENCIES TO PROVIDE BACKING TO KACHI'S OVERALL DEBT STRUCTURE (REFER TO ASX
RELEASES DATED 11 AUGUST 2021 AND 28 SEPTEMBER 2021).

LAKE'S DEBT ADVISORS, GKB VENTURES LTD AND SD CAPITAL ADVISORY LTD, WILL ALSO BE
EXPLORING HOW THE BANKS' DEBT PACKAGE CAN BE FURTHER ENHANCED TO BENEFIT FROM
THE RECENT ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT ("OECD")
CHANGES IN SUPPORT OF CRITICAL MINERAL PROJECTS. OECD'S BENEFICIAL CHANGES
INCLUDE A LONGER DEBT AMORTIZATION TERM, ENABLING GREATER FLEXIBILITY IN THE
DEBT REPAYMENT SCHEDULE, WHICH SHOULD PROVE BENEFICIAL IN TIMES OF LITHIUM PRICE
VOLATILITY.

"WE ARE PLEASED TO HAVE THE CONTINUED SUPPORT OF CITI AND J.P. MORGAN", SAID
DAVID DICKSON, CEO OF LAKE RESOURCES. "WE VALUE THE INVOLVEMENT AND BACKING OF
THESE LEADING INSTITUTIONS AS WE CONTINUE TO WORK WITH GOLDMAN SACHS ON KACHI
FUNDING OPTIONS, INCLUDING BUT NOT LIMITED TO STRATEGIC PARTNERSHIPS,
PRE-PAYMENTS FROM POTENTIAL CUSTOMERS, AND ROYALTIES ON THIS IMPORTANT PROJECT."


ABOUT LAKE RESOURCES NL



LAKE RESOURCES NL (ASX:LKE)  (OTCMKTS:LLKKF) IS A CLEAN LITHIUM DEVELOPER
UTILISING STATE-OF-THE-ART ION EXCHANGE EXTRACTION TECHNOLOGY FOR PRODUCTION OF
SUSTAINABLE, HIGH PURITY LITHIUM FROM ITS FLAGSHIP KACHI PROJECT IN CATAMARCA
PROVINCE WITHIN THE LITHIUM TRIANGLE IN ARGENTINA AMONG THREE OTHER PROJECTS
COVERING 220,000 HA.

THIS ION EXCHANGE EXTRACTION TECHNOLOGY DELIVERS A SOLUTION FOR TWO RISING
DEMANDS - HIGH PURITY BATTERY MATERIALS TO AVOID PERFORMANCE ISSUES, AND MORE
SUSTAINABLE, RESPONSIBLY SOURCED MATERIALS WITH LOW CARBON FOOTPRINT AND
SIGNIFICANT ESG BENEFITS.

   


CONTACT

NIGEL KASSULKE AT TENEO
M: +61-407-904-874
E: NIGEL.KASSULKE@TENEO.COM

GLOBAL:
KAREN GREENE
SVP, INVESTOR RELATIONS
KAREN.GREENE@LAKERESOURCES.COM.AU




Link: Amendment and Extension of Agreement with Citi and JP Morgan


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