Argentina Lithium Announces Non-Brokered Private Placement
Argentina Lithium Announces Non-Brokered
Private Placement Using The Listed Issuer
Financing Exemption ("LIFE")
/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
,
Oct. 29, 2024
/CNW/ -
Argentina Lithium & Energy Corp.
(TSXV: LIT) (FSE:
OAY3) (OTCQX: LILIF)
, ("Argentina Lithium" or the "Company")
announces a non-brokered
private placement for the sale of: (i) a minimum of 13,333,334 units of the Company (each, a "
Unit
")
at a price of
$0.15
per Unit (the "
Offering Price
") for aggregate gross proceeds of
$2,000,000.10
;
and (ii) a maximum of 23,333,334 Units at the Offering Price for aggregate gross proceeds of
$3,500,000.10
(the "
Offering
"). Red Cloud Securities Inc. will be acting as a finder in connection
with the Offering.
Each Unit will consist of one common share in the capital of the Company (each, a "
Common
Share
") and one transferrable Common Share purchase warrant (each, a "
Warrant
"). Each Warrant
will entitle the holder thereof to purchase one additional Common Share (each, a "
Warrant Share
")
at an exercise price of
$0.20
per Warrant Share for a period of three (3) years following the issue
date of the Unit.
"While we received a substantial investment from Stellantis last
October 2023
, those funds have
been earmarked for our drilling and exploration activities on our projects in
Argentina
. A prepaid
drilling services contract for up to 15,500 meters secured last October for just over
$51 million
ensures that all upcoming drill programs for the next couple of years are fully funded,
" stated
Nikolaos Cacos
, President and CEO. "
The current financing will ensure that our corporate activities
will keep pace with our ongoing exploration programs.
"
Please contact
Shawn Perger
at 1-604-687-1828 or Toll-Free: 1-800-901-0058
Email:
Subject to compliance with applicable regulatory requirements and in accordance with National
Instrument 45-106 –
Prospectus Exemptions
("
NI 45-106
"), the Units will be offered for sale to
purchasers resident in
Canada
other than
Quebec
and in certain offshore jurisdictions pursuant to
the listed issuer financing exemption under Part 5A of NI 45-106 (the "
Listed Issuer Financing
Exemption
"). The Units may also be sold in certain other jurisdictions pursuant to applicable
securities laws. The Common Shares issuable from the sale of Units sold under the Listed Issuer
Financing Exemption are expected to be immediately freely tradeable under applicable Canadian
securities legislation if sold to purchasers resident in
Canada
, subject to any hold period imposed by
the TSX Venture Exchange (the "
Exchange
") on the securities issued to certain purchasers. There
is an offering document relating 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
. Prospective
investors should read this offering document before making an investment decision.
Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all
necessary approvals, including but not limited to, the approval of the Exchange. Directors, officers
and employees of the Company may participate in a portion of the Offering and any securities
issued to such directors and officers are subject to the Exchange's four-month hold period. A
commission may be paid to arm's length finders on a portion of the Offering. The Company intends
to use the proceeds of the Offering for exploration programs on the Company's projects in
Argentina
and for general working capital.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "
1933 Act
") or any state securities laws, and accordingly,
may not be offered or sold within
the United States
except in compliance with the registration
requirements of the 1933 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.
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
recent 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
www.argentinalithium.com
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.
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 use of proceeds of the Offering; the
Company's expectations about when the Offering will close, if the Offering closes at all; the
Company's expectation that it will meet the requirements of the Exchange necessary to have the
Common Shares listed; the size and other terms of the Offering and the expectation that all of the
closing conditions will be met.
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 proposed completion of the Offering; 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 the Offering will not complete on the timeline anticipated or at all; the risk that all
necessary regulatory approvals will not be obtained, including the approval of the Exchange; 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.
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 29-OCT-24