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Erris Resources completes rebrand, raises £3.75m in AIM listing
StockMarketWire.com
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Erris Resources has rebranded and raised £3.75 million through listing new shares on the Alternative Investment Market (AIM) index.
The company is now known as Zinnwald Lithium after its acquisition of a German lithium development company.
The new company was admitted to trading this morning with 204.5 million shares in issue.
CEO Anton du Plessis said: 'Today marks the start of a new phase in the company's history as we refocus our strategy to concentrate on becoming an important supplier of battery-grade lithium products to Europe's rapidly growing EV [electric vehicle] and energy storage market.
'Demand for lithium is anticipated to grow strongly as the shift to EVs gains momentum. Local supply is becoming increasingly important with the EU recently designating lithium as a critical raw material.'
At 9:47am:
Story provided by StockMarketWire.com
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