Standard Lithium (SLI) has just announced that Koch Strategic Platforms (KSP) will be investing US$100 million in Standard Lithium to assist with the company’s strategic development goals.
As of 9:44 am EST today, SLI shares increased 6.37% in value.
US$100 Million Direct Private Placement Investment
The terms of Koch Strategic Platforms’ direct investment in SLI will see KSP “subscribe for 13,480,083 common shares of Standard Lithium at a price of CDN$9.43 (US$7.42) per share for gross proceeds to Standard Lithium of CDN$127,070,000 (US$100,000,000).”
Exploring Strategic Opportunities
This investment deal will also see Standard Lithium and several Koch Industries subsidiaries explore collaborative strategic opportunities in “several key areas,” including possible cooperation with Koch Engineered Solutions, as well as Koch Minerals & Trading.
CEO Comments
“We’re entering an important phase for Standard Lithium and we’re thrilled to be starting it with a globally recognized industrial leader like Koch Strategic Platforms as a partner,” Standard Lithium CEO Robert Mintak remarked in a press release. “KSP has an impressive track record of investing in disruptive technologies and their backing is an important endorsement of the Company’s [SLI] core technology, development plans and of our intent to make the Gulf Region a leading supplier of lithium resources.”
SLI has a Long-Term Technical Rank of 69. Find out what this means to you and get the rest of the rankings on SLI!
Standard Lithium Corp is engaged in the exploration and development of lithium brine properties in the United States. The Company is focused on the exploration and development of the Arkansas Lithium Project is located in south-central Arkansas. Its other projects comprise of Lanxess Project, Tetra project, and Bristol Dry Lake Project.
