Cornish Lithium kicks off crowdfunding campaign with £2.5m raised from existing shareholders
Cornish Lithium, a pioneering mining exploration company working towards securing a domestic supply of battery-grade lithium compounds, has already raised £2.5m through existing shareholders in its latest crowdfunding campaign and is now offering shares to the wider public.
With an offer of up to £6.9 million, the campaign is an opportunity for existing and new investors to be part of Cornish Lithium’s journey as it supports theautomotive industry and helps the UK transition towards net zero. Existing shareholders have received priority access to the financing round with Crowdcube, investing a milestone £1 million in just 27 minutes. New shareholders are invited to invest from Friday 15th September.
This latest offer to retail shareholders comes at a pivotal moment for Cornish Lithium. Last month the company announced a US$67 million (£53.6 million) initial investment from a group of leading institutional investors led by the UK Infrastructure Bank alongside The Energy & Minerals Group and TechMet.
The investment package together with the crowdfunding campaign will enable Cornish Lithium to progress its hard rock lithium project to a construction-ready status, as well as complete the engineering design work required to build a demonstration-scale geothermal waters extraction facility.
Jeremy Wrathall, founder and CEO of Cornish Lithium said: “We are delighted to have been able to offer existing shareholders the opportunity to invest further in Cornish Lithium and to open it out to new shareholders. The appetite to help us to succeed in our ambitions has already been overwhelmingly positive.
“This is an opportunity to invest in a British company doing great things for the UK’s green revolution.”