Bacchus Capital Retained as Corporate Adviser
Lepidico Ltd (ASX: LPD) (“Lepidico” or “Company”) is pleased to announce that it has retained Bacchus Capital Advisers Limited (“Bacchus Capital”) as its Corporate and Financial Adviser. Bacchus Capital’s principal focus will be to help conclude a strategic funding and lithium chemical offtake arrangement for Lepidico’s Phase 1 L-Max® Plant Project. The Project is currently the subject of a Feasibility Study, the scope of which was announced to the ASX on 27 February 2017.
Whilst the Lepidico Board is committed to pursuing the Company’s development plans in its own right, Lepidico has received considerable interest in its activities from a range of lithium industry and battery market participants. The appointment of Bacchus Capital, working alongside the management team, will enable the Company to engage with these parties globally to deliver the best outcome for shareholders.
Bacchus Capital advised Lepidico in relation to its recent successful hostile takeover defence and under the terms of this engagement has elected to receive the majority of its fee in Lepidico shares. Bacchus Capital’s Chairman and Chief Executive, Peter Bacchus commented, “We were very pleased to help successfully safeguard Lepidico’s independence from the recent unsolicited takeover offer. Our decision to act in this capacity was based on our strong belief in the Lepidico team and the Company’s long-term strategy, and we look forward to continuing our relationship as both Corporate Adviser and as Shareholder.”
Lepidico’s Managing Director, Joe Walsh said, “Bacchus Capital has an unrivalled reputation and track record in strategic and tactical M&A and corporate advisory services that spans several decades with some of the world’s largest and most successful mining companies globally. This, coupled with its depth of international industry relationships makes for a winning combination for Lepidico. Bacchus Capital’s equity interest in Lepidico demonstrates its belief and commitment to the Company’s strategy and I welcome Bacchus Capital as a shareholder.”