Li-Metal Raises Over C$19 Million to Develop Lithium Anode Technology

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(Kitco News) – Li-Metal (CSE:LIM), a Canadian company developing lithium metal anodes and lithium metal production technologies, announced today that it has raised CA$19,462,275 through the exercise of stock warrants.

Li-Metal said the exercise of these warrants provides capital that the company will use to further develop its lithium technologies as the company works toward commercial scale production.

Co-founder and CEO Maciej Jastrzebski added, “The product further strengthens our balance sheet as we advance our growth strategy focused on expanding lithium anode production capacity and lithium metal production. We are pleased that our shareholders continue to demonstrate their confidence and support in our business by fully funding our growth plans for next year and beyond.

Li-Metal said it intends to use the product to expand engineering and operations teams at the Rochester, NY and Markham, ON sites to expedite development and release work. the scale ; add analytical tools and facilities to the Markham, Ontario site to improve accuracy and turnaround time for pilot and development samples; and the full engineering, major equipment purchase and construction of the commercial-scale anode production demonstration plant to be built in 2023.

Li-Metal is a Canadian company that develops lithium metal anodes and lithium metal production technologies for use in next-generation batteries. The company said its production methods are significantly more sustainable than existing products and deliver lighter, more energy-dense and safer batteries that are essential for tomorrow’s electric vehicles.

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