SYDNEY: Lithium Consolidated Ltd (Li3) has completed acquisition of 100% of Warrigal Mining Pty Ltd, a Western Australian based exploration company.

Under the share sale agreement, Li3 agreed to provide consideration in 3 tranches and advises that is has provided the following consideration to complete Tranches 1 and 2:

Tranche 1: Li3 has issued a total of 11,637,384 shares to the shareholders of Warrigal. Tranche 2: Li3 has issued a total of 3,613,288 shares to the shareholders of Warrigal and 1,386,712 shares to Eastern Goldfields Pty Ltd. Tranche 3: Li3 advises that it has made the payment of $200,089.56 to complete the payment of the consideration required under the sale agreement for Tranche 3.

Edited by Nayyar Iqbal