Winsome raises cash for Canada lithium project
Lithium explorer and developer Winsome Resources has secured firm commitments to raise A$7.84-million through an institutional share placement as it advances its Adina lithium project in Quebec.
The company has also launched a share purchase plan to allow existing shareholders to participate in the capital raise.
The funds raised will be used to extend Winsome’s option to acquire the Renard diamond mine, processing facility and associated infrastructure from Stornoway Diamonds and 11272420 Canada.
Winsome has amended its agreement with the vendors to extend the call option on Renard until August 31, 2025, at a cost of C$8.5-million.
The company is also progressing feasibility studies for the Adina project, which it describes as one of the largest and fastest-growing lithium deposits in North America.
Winsome MD Chris Evans said the additional funds strengthened the company’s financial position and provided a clear pathway to production. He noted that Winsome’s portfolio included both a significant lithium asset and an exclusive option over the billion-dollar Renard operation, which could provide strategic infrastructure benefits.
GM for Canada, Carl Caumartin, highlighted the strong investor interest in Winsome’s vision to integrate into the North American electric vehicle supply chain. He said the company remained committed to developing Adina as a key lithium project in the region.
Beyond project development, Winsome is also investigating CO2 removal opportunities as part of its broader sustainability strategy. The funds will also support general working capital requirements and the costs associated with the capital raise.
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