Winsome Resources Secures A$7.8M to Advance Adina Lithium Project and Extend Renard Option

Winsome Resources (ASX: WR1) has successfully raised A$7.8 million through a placement at A$0.36 per share, strengthening its financial position and accelerating the development of its flagship Adina Lithium Project. The funding will also extend the company's exclusive Renard Option, providing additional time to evaluate strategic partnerships and sustainability initiatives.

The capital raise received strong support from existing shareholders and new investors, both domestic and global. The funds will be primarily allocated toward advancing feasibility studies at Adina, ensuring the continued growth of one of North America's largest lithium deposits. Additionally, the capital will be used to investigate carbon dioxide removal (CDR) opportunities, aligning with global sustainability trends in lithium extraction and processing.

Winsome Resources' Managing Director, Chris Evans, expressed his satisfaction with the significant level of interest from high conviction investors who believe in the company's vision of integrating into the North American electric vehicle (EV) supply chain. The additional funds put Winsome in a strong financial position to advance the Adina Lithium Project, which comprises one of the largest and growing lithium deposits in North America, an exclusive option to acquire the billion-dollar Renard operation and associated infrastructure, and a clearly defined pathway to production.

The extension of the Renard Option until 31 August 2025 at a cost of C$8.5 million provides Winsome with the time required to assess carbon sequestration opportunities and explore opportunities to partner with groups embedded in the electric vehicle supply chain. The company looks forward to continuing to work with all of Stornoway's stakeholders in progressing the transaction to a successful outcome.

The extension of the Renard Option grants Winsome Resources additional flexibility to structure its acquisition strategy, explore commercial synergies with the Adina Lithium Project, and assess the viability of integrating Renard's infrastructure for lithium processing. The Renard site includes key operational assets such as a processing facility, an airport, a power station, and water treatment facilities, potentially reducing capital expenditure for future lithium production.

In conclusion, Winsome Resources' successful capital raise and the extension of the Renard Option position the company to advance its Adina Lithium Project and explore strategic partnerships, ultimately contributing to the North American EV supply chain. With a strong financial position and a clear pathway to production, Winsome Resources is well-equipped to capitalize on the growing demand for lithium in the region.