Li3 Energy, Inc. (LIEG) Raises Funds for Chile Project
Li3 Energy, Inc. reported that the company has entered into three capital market transactions to raise funds for the acquisition and exploration of a property in South America. The transactions raised gross proceeds of $6 million. In March 2010, Li3 Energy, Inc. agreed to purchase a 60% interest in the Maricunga Project, located in Chile. The company believes that this property is prospective for mineral reserves that can be extracted commercially. Li3 Energy, Inc. sold 10.6 million units in a private placement offering at a price of $0.27 per unit. Each unit comprises one common share of the company’s stock,…