Lifezone Metals closes $15 million registered direct offering

Lifezone Metals Limited (NYSE: LZM) completed its underwritten registered direct offering, raising approximately $15 million in gross proceeds before deducting underwriting discounts, commissions and other offering expenses.

The company plans to use the net proceeds for exploration of its Kabanga Nickel Project, project staffing and general corporate purposes, according to a company statement.

BTIG served as the sole book-running manager for the offering, while Red Cloud Securities acted as co-manager. The transaction included participation from existing investors, including Cinctive Capital Management LP.

The securities were offered through a registration statement on Form F-3 filed with the Securities and Exchange Commission, which was declared effective on August 16, 2024, using a shelf registration process.

Lifezone Metals operates the Kabanga Nickel Project in Tanzania and develops hydrometallurgical technology for metals production and recycling. The company also has a US-based recycling partnership focused on recovering platinum, palladium and rhodium from spent automotive catalytic converters.

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