Argentina Lithium Announces Closing of C$4.4 Million Brokered LIFE Private Placement
Argentina Lithium Announces Closing of
C$4.4 Million Brokered LIFE Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 10, 2026) -
Argentina Lithium & Energy Corp.
(TSXV: LIT) (FSE: OAY3) (OTCQB: LILIF)
("
Argentina Lithium
" or the "
Company
") is pleased to
announce the closing of its previously announced "best efforts" private placement (the "
Offering
") for
aggregate gross proceeds of C$4,379,200.08, which includes the partial exercise of the agent's option.
Pursuant to the Offering, the Company sold 36,493,334 units of the Company (the "
Units
") at a price of
C$0.12 per Unit (the "
Offering Price
"). Red Cloud Securities Inc. ("
Red Cloud
") acted as sole agent
and bookrunner under the Offering.
Each Unit consists of one common share of the Company (each, a "
Common Share
") and one
common share purchase warrant (each, a "
Warrant
"). Each Warrant entitles the holder to purchase one
Common Share at a price of C$0.16 any time after May 9, 2026 to March 10, 2029.
The Company intends to use the net proceeds from the Offering for the exploration and advancement of
the Company's Rincon West lithium project in Argentina and for working capital and general corporate
purposes, as is more fully described in the Amended Offering Document (as herein defined).
In accordance with National Instrument 45-106 -
Prospectus Exemptions
("
NI 45-106
"), the Units were
issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-
106, as amended by Coordinated Blanket Order 45-935 -
Exemptions from Certain Conditions of the
Listed Issuer Financing Exemption
(the "
Listed Issuer Financing Exemption
"). The securities
issuable from the Units issued to Canadian purchasers are immediately freely tradeable in accordance
with applicable Canadian securities legislation, subject to any restriction on transfer imposed by the
policies of the TSX Venture Exchange (the "
TSXV
").
As consideration for their services, Red Cloud received a cash fee of C$289,044 and 2,408,700 non-
transferable common share purchase warrants (the "
Broker Warrants
"). Each Broker Warrant is
exercisable into one Common Share at the Offering Price at any time on or before March 10, 2029. The
Broker Warrants and any Common Shares issuable upon any future exercise of the Broker Warrants will
be subject to a hold period in Canada in accordance with applicable Canadian securities law, expiring
on July 11, 2026.
There is an amended and restated offering document (the "
Amended Offering Document
") related to
the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the
Company's website at
www.argentinalithium.com
.
The closing of the Offering remains subject to the final approval of the TSXV.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "
U.S. Securities Act
"), or any state securities laws, and
accordingly, may not be offered or sold within the United States or the US persons except in compliance
with the registration requirements of the U.S. Securities Act and applicable state securities requirements
or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
Multilateral Instrument 61-101
Pursuant to the Offering, the Company has issued an aggregate of 380,000 units to certain insiders of
the Company, constituting, to that extent, a "related party transaction" as defined under Multilateral
Instrument 61-101 -
Protection of Minority Securityholders in Special Transactions
("
MI 61-101
"). The
Company is exempt from the requirements to obtain a formal valuation and minority shareholder
approval in connection with the insiders' participation in the Offering in reliance on sections 5.5(a) and
5.7(1)(a) of MI 61-101, as neither the fair market value of the Offering nor the securities issued in
connection therewith, in so far as the Offering involves the insiders, exceeds 25% of the Company's
market capitalization. The Company did not file a material change report more than 21 days before the
expected closing of the Offering as the details of the Offering and the participation therein by the insiders
were not settled until recently and the Company wished to close on an expedited basis for sound
business reasons.
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
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
For further information, please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email:
www.argentinalithium.com
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements and information that may be considered "forward-
looking statements" and "forward-looking information" within the meaning of applicable securities
laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking
information can be identified by the use of forward-looking terminology such as "plans", "targets",
"expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates",
"intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words
and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will"
or "will be taken", "occur" or "be achieved" and other similar expressions. In addition, statements in
this news release that are not historical facts are forward looking statements, including statements or
information concerning the intended use of proceeds of the Offering and the final approval of the
Offering from the TSXV.
These statements and other forward-looking information are based on assumptions and estimates
that the Company believes are appropriate and reasonable in the circumstances, including, without
limitation, assumptions about the intended use of proceeds of the Offering and receipt of final
approval for the Offering from the TSXV; future prices of lithium; the price of other commodities;
currency exchange rates and interest rates; favourable operating conditions; political stability; timely
receipt of governmental approvals, licences and permits (and renewals thereof); access to necessary
financing; stability of labour markets and market conditions in general; availability of equipment; the
accuracy of mineral resource estimates and preliminary economic assessments; estimates of costs
and expenditures to complete the Company's programs and goals; and there being no significant
disruptions affecting the development and operation of the project.
There can be no assurance that such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in such statements. Important factors that
could cause actual results to differ materially from the Company's expectations include: the risk that
all necessary regulatory approvals will not be obtained, including the approval of the TSXV; the risk
that the Company will not be able to utilize the proceeds of the Offering as anticipated; risks
associated with the business of the Company; business and economic conditions in the mining
industry generally; the supply and demand for labour and other project inputs; changes in commodity
prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and
engineering assumptions; risks relating to unanticipated operational difficulties; failure of equipment
or processes to operate in accordance with specifications or expectations; cost escalations;
unavailability of materials and equipment; government action or delays in the receipt of government
approvals; industrial disturbances or other job action; unanticipated events related to health, safety
and environmental matters; risks relating to adverse weather conditions; political risk and social
unrest; changes in general economic conditions or conditions in the financial markets; ongoing war in
Ukraine; rising inflation and interest rates and the impact they will have on the Company's operations;
supply chains; ability to access mining projects or procure equipment, supplies, contractors and other
personnel on a timely basis or at all and economic activity in general; and other risk factors as
detailed from time to time in the Company's continuous disclosure documents filed with Canadian
securities regulators. The Company does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
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