Green Shift Commodities to Acquire District Scale Lithium Land Package in Argentina
Green Shift Commodities to Acquire District Scale
Lithium Land Package in Argentina
Toronto, Ontario – December 1, 2022 – Green Shift Commodities Ltd. (TSXV: GCOM), (“Green Shift” or the
“Company”) is pleased to announce that it has entered into a definitive purchase agreement (the “ Agreement”)
dated November 30, 2022, with LFP Resources (“LFP”) and the shareholders of LFP pursuant to which GCOM has
agreed to acquire (the “LFP Acquisition”) all of the outstanding shares of LFP. LFP is a privately owned Canadian
exploration company which has existing rights to acquire (the “ Property Acquisitions”) an aggregate of
approximately 485,000 hectares of prospective lithium ground in Rio Negro, Chubut, and Neuquén Provinces in
Argentina (the “Property”). Completion of the LFP Acquisition is conditional upon, among other things, completion
of one of the Property Acquisitions.
Highlights:
• Entry into the lithium sector is a natural extension to the Company’s existing exposure to clean energy and
battery commodities which already includes uranium, phosphate, nickel, and vanadium at its Berlin project
in Colombia.
• Argentina is one of the top l ithium producing countries in the world and is geologically highly prospective;
the GCOM team has deep experience operating exploration projects in the country .
• The district -scale land package covers areas of known lithium pegmatite occurrences discovered and
sampled in the 1960’s by the Argentinian government, plus an additional tens of kilometres of prospective
strike containing areas with similar geological and geophysical signatures.
• La Pintada and Manuel Choique granites (that extend over an area of 12 km x 7 km), which were the focus
of the previous work, contain 19 known pegmatite dykes that returned lithium grades up to 4.76% Li 2O1 in
historic sampling. Recent mapping has identified dozens of additional potential untested pegmatite dyke s
and has identified the potential for disseminated lithium mineralization in granite in this area.
• The Property is located in an area of good, all-season access and extensive infrastructure.
• Permitting required for systematic exploration of the Property is underway. Planned exploration includes
extensive sampling of outcropping pegmatite and geological mapping on closing of the LFP Acquisition.
Trumbull Fisher, CEO and Director of GCOM, commented, “We are very pleased to announce GCOM’s entry into
the lithium sector where prices have increased dramatically recently due to rising demand for EV batteries . The
district-scale land package we are acquiring offers the potential to explore known areas of lithium while, at the same
time, secures an entire belt that has yet to be methodically explored. On a recent visit to the project area, I was very
encouraged by the ease of access, the proximity to infr astructure and by the high-grade lithium exposed in the
pegmatites exposed at surface . Additionally, through the acquisition, we will add a local technical team with
tremendous experience exploring for lithium in Argentina. They are excited, as we are, to get work programs started
immediately to test the potential of the incredibly large and prospective Property area. While the Berlin Project, with
its uranium, phosphate, nickel, vanadium resources, continues to be of great importance to GCOM, this acquisition
demonstrates our team’s plan to continue to expand further into the battery metals space.”
Terms of the LFP Acquisition
Pursuant to the Agreement, GCOM will acquire all of the outstanding shares of LFP for consideration comprised of
an up-front payment of USD$75,000 and the issuance of 17,500,000 common shares of GCOM (“Common Shares”)
on closing. The price per Common Share will be based on the closing price of the Common S hares on the TSX
Venture Exchange (the “TSXV”) on the day immediately prior to closing of the LFP Acquisition, currently anticipated
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to take place in January of 2023. The issuance of the Common Shares pursuant to the LFP Acquisition is subject
to approval of the TSXV.
Completion of the LFP Acquisition is conditional upon, among other things, GCOM being satisfied, in its sole and
absolute discretion, with the terms of the Property Acquisition and its due diligence with respect to the Property
Acquisition and the Property, the completion of the Property Acquisition and the satisfaction of certain other closing
conditions customary in transactions of this nature. There are no finders’ fees payable in connection with the LFP
Acquisition and the sellers are arms-length parties with respect to the Company.
The Property
The Property consists of approximately 485,000 h ectares of staked and grant ed claims stretching through the
provinces of Chubut, Rio Negro and Neuquén (Figure 1). The Property covers a large portion of an intrusive belt
known to host lithium mineralization. Historic work on granitic stocks in the Manuel Choique (“MC”) area by the
Argentine State in the 1960’s identified 19 separate pegmatite bodies where assay results from 60 rock chip
samples ranged from 0.6% Li2O to 4.1% Li2O, averaging 2.0% Li2O.
Over 800 structures (possible pegmatite bodies) have been mapped through satellite image interpretation in the
MC pegmatite field. This work showed that the identified structures have a total strike length of over 100 km. A
recent field visit confirmed the existence of many of the target structures identified on satellite imagery. Many of the
trenches sampled by the State in the 1960’s are still open and accessible for resampling in the planned exploration
program.
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Figure 1: Property Area
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Table 1: La Pintada Granite/Manuel Choique Geochemical Assay Results from Historic Sampling1
Qualified Person
The scientific and technical information contained in this news release was reviewed and approved by Peter Mullens
(FAusIMM), a consultant to LFP Resources, who is a “Qualified Person” (as defined in NI 43-101).
About Green Shift Commodities Ltd.
Green Shift Commodities Ltd . is focused on the exploration and development of commodities needed to help
decarbonize and meet net-zero goals.
The Company is developing the Berlin Deposit in Colombia. Apart from uranium, for clean nuclear energy, the Berlin
Deposit contains battery c ommodities including nickel, phosphate, and vanadium. Phosphate is a key component
of lithium-ion ferro-phosphate (“LFP”) batteries that are being used by a growing list of electric vehicle manufacturers.
Nickel is a component of various lithium-ion batteries, while vanadium is the element used in vanadium redox flow
batteries. Neodymium, one of the rare earth elements contained within the Berlin Deposit, is a key component of
powerful magnets that are used to increase the efficiency of electric motors and in generators in wind turbines.
For further information, please contact:
Trumbull Fisher, CEO, Green Shift Commodities Ltd.
Tel: (416) 917-5847
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1 Source: 1. Sesana, Fernando, 1968. Estudio Sobre La Zora De Granito Y Pegmatita Lithified De Masuri Oroique Rio Negro
Forward-Looking Statements
This news release includes certain “forward looking statements”. Forward-looking statements consist of statements
that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future,
and include, but not limited to, statements with respect to: closing of the closing of the LFP Acquisition and the
Property Acquisition ; the approval of the TSX V; the outcome of permitting activities, the completion of future
exploration work and the potential metallurgical recoveries and results of such test work; the future direction of the
Company’s strategy; and other activities, event s or developments that are expected, anticipated or may occur in
the future. These statements are based on assumptions, including that: (i) the ability to achieve positive outcomes
from test work ; (ii) actual results of our exploration, resource goals, met allurgical testing, economic studies and
development activities will continue to be positive and proceed as planned, ( iii) requisite regulatory and
governmental approvals will be received on a timely basis on terms acceptable to Green Shift (iv) economic, political
and industry market conditions will be favourable, and (v) financial markets and the market for uranium, battery
commodities and rare earth elements will continue to strengthen. Such statements are subject to risks and
uncertainties that may cause actual results, performance or developments to differ materially from those contained
in such statements, including, but not limited to: (1) changes in general economic and financial market conditions,
(2) changes in demand and prices for minerals, (3) the Company’s ability to source commercially viable reactivation
transactions and / or establish appropriate joint venture partnerships, (4) litigation, regulatory, and legislative
developments, dependence on regulatory approvals, and changes in environment al compliance requirements,
community support and the political and economic climate, (5) the inherent uncertainties and speculative nature
associated with exploration results, resource estimates, potential resource growth, future metallurgical test result s,
changes in project parameters as plans evolve, (6) competitive developments, (7) availability of future financing, (8)
the effects of COVID -19 on the business of the Company, including, without limitation, effects of COVID -19 on
capital markets, commodi ty prices, labour regulations, supply chain disruptions and domestic and international
travel restrictions, (9) exploration risks, and other factors beyond the control of Green Shift including those factors
set out in the “Risk Factors” in our Management D iscussion and Analysis dated May 2, 2022 for the fiscal year
ended December 31, 2021 available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions
used in the preparation of such information, although considered reasonable at the time of preparation, may prove
to be imprecise and, as such, undue reliance should not be placed on forward -looking statements. Green Shift
Commodities Ltd. assumes no obligation to update such information, except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press
release.