Feb 1 (Reuters) - Pepinnini Lithium Ltd PNN.AX :
* CONTROLLED PLACEMENT AGREEMENT WITH ACUITY CAPITAL
* DEAL PROVIDES PNN WITH UP TO $5 MILLION OF STANDBY EQUITY CAPITAL OVER COMING 23 MONTH PERIOD
* AS COLLATERAL FOR DEAL, CO AGREED TO PLACE 17 MILLION SHARES AT NIL CONSIDERATION TO ACUITY CAPITAL