Standard Lithium, Ltd. (NYSE American: SLI) is engaged as an innovative technology and lithium development company. The company operates its flagship project out of southern Arkansas, where the company works on lithium extraction over 150,000 acres of permitted territory. Shares of the lithium company are rallying 19% through afternoon trading on Wednesday, November 24, 2021. Over the past three months, Standard Lithium has seen average daily volume of 2.55 million shares. However, volume of 5.13 million shares or dollar volume of around $52.89 million, has already exchanged hands through afternoon trading Wednesday.
Shares of Standard Lithium are gaining after the company announced that it has received a $100 million direct private placement investment from Koch Strategic Platforms (KSP), a subsidiary of Koch Investments Group. Under the terms of the deal, KSP will receive 13,480,083 common shares of Standard Lithium at a price of $7.42 (CDN$9.43) per share.
Standard Lithium says the proceeds of the investment will be used to continue development of its first commercial project at the Lanxess facility, expand development of the South West Arkansas Lithium Project, develop and commercialize extraction and processing technologies, and project expansions.
In addition to its direct investment, Standard Lithium and Koch Investments Group will explore strategic collaboration opportunities with other Koch subsidiaries, such as Koch Engineered Solutions or Koch Minerals & Trading.
“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” said Robert Mintak, CEO of Standard Lithium. “KSP has an impressive track record of
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