Vulcan Energy Resources Limited Announces EUR 100M Capital Increase

Vulcan Energy Resources Limited, based in Perth, Australia, has resolved to increase its share capital, aiming to raise EUR 100 million (A$164 million) in gross proceeds. The increase will be achieved through the issuance of approximately 28 million new shares, offered via a fully underwritten institutional placement and a concurrent placement to strategic investors. The share price is set at EUR 3.57 (A$5.85) per share.

The company plans to use the funds to initiate Phase One of its lithium and renewable energy project, covering critical workstreams and expenditures. The new shares are expected to commence trading on the Frankfurt Stock Exchange and the Australian Stock Exchange around December 19, 2024.