Fulcrum Lithium Ltd (ASX: FUL), a lithium development company focused on its Alkali Flats project in Nevada, USA, has announced a Share Purchase Plan (SPP) for eligible shareholders. The company, which recently defined a 10.7 million tonne lithium carbonate equivalent (LCE) maiden Mineral Resource at Alkali Flats, is offering existing shareholders the opportunity to acquire new shares at a discounted rate to support its next phase of development.
Under the SPP, eligible shareholders residing in Australia or New Zealand can apply for up to $30,000 worth of new shares, with a minimum application of $1,000. Shares will be issued at $0.051 each, representing a 20% discount to the five-day volume weighted average price of Fulcrum shares prior to the SPP announcement. The capital raised, targeting up to $1.5 million, will be directed towards a maiden drilling program at Dry Canyon, a resource upgrade drilling program at Alkali Flats in the first half of 2027, and continued metallurgical optimisation for Alkali Flats.
Fulcrum Lithium views this SPP as a critical point in its growth, aiming to advance its substantial US lithium resources. The offer opened on Wednesday, 11 November 2026, and is scheduled to close at 5:00 pm (AEDT) on Friday, 4 December 2026. Shares are expected to be issued on Friday, 11 December 2026. The company reserves the right to accept oversubscriptions or scale back applications at its discretion, and any shortfall may be placed with institutional investors. All new shares issued under the plan will rank equally with existing shares. Shareholders are encouraged to consult a financial adviser regarding their investment decisions.
