Argentina Lithium Applies to Extend Warrants
Argentina Lithium Applies to Extend Warrants
TSX Venture Exchange (TSX-V):
LIT
Frankfurt Stock Exchange (FSE):
OAY3
OTCQX Venture Market:
LILIF
VANCOUVER, BC
,
July 24, 2024
/CNW/ -
Argentina Lithium & Energy Corp.
(TSXV: LIT) (FSE:
OAY3) (OTCQX: LILIF)
, ("Argentina Lithium"
or the
"Company")
announces that the Company has
made an application to the TSX Venture Exchange to extend the term of the outstanding warrants as
follows:
16,630,000 warrants that are set to expire on
August 11
and
August 25, 2024
to be extended to
August 11
and
August 25, 2027
respectively. These warrants were originally issued under a private
placement completed by the Company in 2 Tranches in
August 2022
.
The exercise price of the warrants will remain at
$0.38
. Each warrant, when exercised, will be
exchangeable for one common share of the Company.
The Company further reports that 9,100,000 of the 16,630,000 Warrants are held by insiders of the
Company. As such, the extension of such Warrants constitutes, to that extent, a "related party
transaction" within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of
Minority Shareholders ("MI 61-101"). The Company has relied on the exemptions from the valuation and
minority shareholder approval requirements of MI 61-101 (and Exchange Policy 5.9), as the fair market
value of the Warrants held by the insiders does not exceed 25% of the market capitalization of the
Company.
The amendment is subject to the approval of the TSX Venture Exchange ("TSXV").
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 67,000 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.
This news release contains forward-looking statements. Generally, forward-looking statements can be
identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could",
"estimate", "forecast", "plan", "potential" and similar expressions. Forward-looking statements address
future events and conditions and therefore involve inherent risks and uncertainties. All statements,
other than statements of historical fact, that address activities, events or developments management of
the Company believes, expects or anticipates will or may occur in the future, including, without
limitation, statements about the Company's plans for its mineral properties; the Company's business
strategy, plans and outlooks; the future financial or operating performance of the Company; and future
exploration and operating plans are forward-looking statements.
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SOURCE
Argentina Lithium & Energy Corp.
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%SEDAR: 00019719E
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 24-JUL-24