Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement
Argentina Lithium Announces Cancellation of
the Non-Brokered Private Placement
/NOT FOR DISTRIBUTION TO
UNITED STATES
OR THROUGH U.S. NEWSWIRE SERVICES/
TSX Venture Exchange (TSX-V):
LIT
Frankfurt Stock Exchange (FSE):
OAY3
OTCQX Venture Market:
LILIF
VANCOUVER, BC
,
Nov. 18, 2024
/CNW/ -
Argentina Lithium & Energy Corp.
(TSXV: LIT) (FSE:
OAY3) (OTCQX: LILIF)
, ("Argentina Lithium"
or the
"Company")
announces that further to the
Company's news release dated
October 29, 2024
and amended on
November 8, 2024
and despite
significant interest from investors including existing shareholders, it will not be proceeding with the
non-brokered private placement offering using the Listed Issuer Financing Exemption for the sale of:
(i) a minimum of 8,000,000 units of the Company (each, a "
Unit
") at a price of
$0.15
per Unit (the
"
Offering Price
") for aggregate gross proceeds of
$1,200,000
; and (ii) a maximum of 23,333,334
Units at the Offering Price for aggregate gross proceeds of
$3,500,000.10
(the "
Offering
").
The Company is considering alternate sources in funding that do not result in the issuance of shares
nor any dilution to our current shareholders.
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in
Argentina
and
advancing them towards production in order to meet the growing global demand from the battery
sector. The Company's
2023 strategic investment
by Peugeot Citroen Argentina S.A., a subsidiary
of Stellantis N.V., one of the world's leading automakers, places Argentina Lithium in a unique
position to explore, develop and advance its four key projects covering over 70,000 hectares in the
Lithium Triangle of
Argentina
. Management has a long history of success in the resource sector of
Argentina
and has assembled some of the most prospective lithium properties in the world renowned
"Lithium Triangle". The Company is a member of the Grosso Group, a resource management group
that has pioneered exploration in
Argentina
since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_________________________________
Nikolaos Cacos
, President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE
Argentina Lithium & Energy Corp.
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For further information:
For further information, please contact: Corporate Communications, Tel:
1-604-687-1828, Toll-Free: 1-800-901-0058, Email: [email protected]
CO: Argentina Lithium & Energy Corp.
CNW 07:00e 18-NOV-24