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- Arizona Lithium (AZL) enters a mid-week trading halt ahead of an upcoming capital raise
- The company will remain in the trading halt until April 1 or until an announcement with more details about the raise is released — whichever occurs first
- On March 21, AZL announced the appointment of Brett Rabe as its new Chief Technical Officer
- Currently, he is the President of Project Development & Assessment Consultants LLC and specialises in assisting clients involved in the production of lithium battery chemicals
- Shares in AZL last traded at 15 cents on March 28
Arizona Lithium (AZL) has entered a mid-week trading halt ahead of an upcoming capital raise.
The company will remain in the trading halt until April 1 or until an announcement with more details about the raise is released — whichever occurs first.
AZL is yet to disclose how much it intends to raise or for what it will use the funds once received.
On March 21, AZL announced the appointment of Brett Rabe as its new Chief Technical Officer (CTO).
Mr Rabe is the former Vice President of Engineering and Project Management at Lithium Americas Corp (LAC) for the Thacker Pass lithium project in Nevada.
Currently, he is the President of Project Development & Assessment Consultants LLC and specialises in assisting clients involved in the production of lithium battery chemicals.
AZL said Mr Rabe would bring significant lithium project management and engineering experience to the company’s existing management team.
AZL last tapped investors for cash in November when it undertook a $13 million placement to institutional and professional investors.
The shares were priced at 7.5 cents each and came with one free attaching option for every two shares subscribed for. The options were exercisable at 12 cents and have an expiry one year from the date of issue.
AZL said it would use the money for various activities at its Big Sandy project with work including metallurgical testwork and exploration drilling, as well as for the design and construction of a research facility.
Shares in AZL last traded at 15 cents on March 28.
