Lifezone Metals Limited announced a registered direct offering of 5,7 million ordinary shares at $4.40 per share, expected to generate approximately $25 million in gross proceeds for exploration, project development, and general corporate purposes.
Key takeaways
The company entered into a share purchase agreement to sell 5,700,000 ordinary shares at $4.40 per share to institutional investors.
Gross proceeds are expected to be approximately $25 million, with net proceeds allocated to exploration in Burundi and Tanzania, the PGM Recycling Project, Hydromet R&D, and general corporate purposes.
The offering is expected to close on or about April 23, 2026, subject to customary closing conditions, with Roth Capital Partners serving as the sole placement agent.
The shares were offered pursuant to an effective shelf registration statement (File No. 333-281189) declared effective on August 16, 2024.