Lithium Chile Announces Due Diligence ON Arizaro Sale Nears Completion, Moves to Definitive Agreement Stage
LITHIUM CHILE ANNOUNCES DUE DILIGENCE ON ARIZARO SALE NEARS
COMPLETION, MOVES TO DEFINITIVE AGREEMENT STAGE
TSX Venture Exchange: LITH For Immediate Release
OTC-QB: LTMCF
CALGARY, ALBERTA, February 20, 2025 – Lithium Chile Inc. (“Lithium Chile” or the “Company”)
in its commitment to keep their shareholders apprised on the progress of the Arizaro
transaction, are pleased to provide an update on the proposed sale, announced on December
19, 2024, of Lithium Chile's 80% interest in the Salar de Arizaro project (the “ Project”) for USD
$180 million (approximately CAD $250 million).
Due Diligence Completed to the Point Where Definitive Agreement Now Being Drafted
The Company reports that the due diligence is essentially completed by the buyer and their
confidence in the successful completion of the acquisition has prompted them to begin drafting
the final definitive agreement on the sale of the Arizaro Project. A comprehensive review of
financial, legal, operational, and technical due diligence has been underway since early
December 2024. With this milestone achieved, both parties are now advancing into the
definitive agreement stage, marking a critical step toward finalizing the transaction.
Next Steps
Legal representatives from both parties are actively collaborating to finalize the contractual
framework for the definitive agreement which will outline the final transaction terms, closing
conditions, and the expected Closing Date. This legally binding contract will govern the sale and
ensure a smooth transition. The Company will provide further updates as the process
progresses.
Steve Cochrane , President and CEO of Lithium Chile, commented , "The completion of due
diligence and progress towards a definitive agreement is a major milestone in advancing this
transaction. This has been an intensive in-depth review of the Company’s Arizaro Project; we are
now fully focused on finalizing the definitive agreement and ensuring that this deal maximizes
value for our shareholders. Our team is working diligently alongside our advisors and
stakeholders to bring this transaction to a successful close.
Lithium Chile remains committed to a seamless transition through this final phase and will
continue working closely with regulatory bodies, legal teams, and the buyer to meet all closing
requirements. While the Company is confident in its advancement towards a successful
completion of the transaction, there are still a number of conditions to be met.
ABOUT LITHIUM CHILE
Lithium Chile Inc. is an exploration company with a portfolio of 11 properties spanning 107,936
hectares in Chile and 29,245 hectares on the Salar de Arizaro in Argentina. The Company has
successfully advanced its Arizaro project with the completion of an NI 43 -101 compliant
Resource Report followed by a Preliminary Economic Assessment and then a Prefeasibility
Study, all of which are accessible on SedarPlus.ca under Lithium Chile’s profile.
Lithium Chile’s common shares are listed on the TSX -V under the symbol “LITH” and on the
OTCQB Under the symbol “LTMCF”.
To find out more about Lithium Chile, please contact Steven Cochrane, President and CEO via
email: [email protected] or Michelle DeCecco, COO via email: [email protected] or
phone: 587-393-1990.
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 RELEASE.
FORWARD LOOKING STATEMENTS AND RISK FACTORS:
This news release may contain certain forward -looking information and forward -looking statements
within the meaning of applicable securities legislation (collectively "forward -looking statements").
Generally, forward -looking statements can be identified using forward -looking terminology such as
"expected", "anticipated", "aims to", "plans to" or "intends to" or variations of such words and phrases or
statements that certain actions, events or results "will" occur. Such forward-looking statements are based
on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors
and assumptions with respect to the general stability of the economic and political environment in which
the Company operates and the timely receipt of required regulatory approvals.
Closing of the proposed sale remains subject to significant risks including obtaining necessary regulatory
body approvals including that of the TSX Venture Exchange. Closing also remains subject to the
completion of Definitive Agreements in form satisfactory to the parties to th e transaction and remains
subject to final completion of due diligence by the Buyer.
Readers are cautioned that the foregoing risk factors are not exhaustive. Undue reliance should not be
placed on the forward -looking statements because Lithium Chile can give no assurance that they will
prove to be correct or that any of the events anticipated by forward -looking statements will transpire or
occur, or if any of them do, what benefits Lithium Chile will derive th erefrom. Similarly, the risk factors
listed above are not exhaustive and other risk factors that have not been anticipated may become
apparent as Lithium Chile proceeds to Closing. Lithium Chile does not undertake to update any forward-
looking statements herein, except as required by applicable securities laws. All forward -looking
statements contained in this news release are expressly qualified by this cautionary statement.