Lithium Chile Announces Proposed Private Placement
LITHIUM CHILE ANNOUNCES PROPOSED PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
TSX Venture Exchange: LITH For Immediate Release
OTC-BB: LTMCF
CALGARY, ALBERTA, October 25, 2021 – Lithium Chile Inc. (“ Lithium Chile” or the “ Company”)
announces that it plans to complete a non-brokered private placement of up to 4,166,667 units
of the Company (“ Units”) at a price of $0.60 per Unit, for aggregate gross proceeds of up to
$2,500,000. (the “Offering”), after receiving sizeable unsolicited interest from investors based in
Europe. There is no minimum Offering. Each Unit will be comprised of one (1) common share of
the Company (“ Common Share ”) and one (1) Common Share purchase warrant (“ Warrant”).
Each Warrant shall be exercisable at $0.75 per Common Share for a period of 24 months from
the date of closing of the Offering. Lithium Chile may pay a cash commission or finder's fee to
qualified non-related parties of up to 5% of the gross proceeds of the Offering. The proceeds of
the Offering will be used for working capital and to pay the expenses of the Offering.
The Offering is being offered to all of the existing shareholders of the Company who are
permitted to subscribe pursuant to the Existing Shareholder Exemption. The Company
anticipates that the Offering will close on or around November 5, 2021. Any existing shareholders
interested in participating in the Offering should contact the Company pursuant to the contact
information set forth below.
The Company has set October 20, 2021 as the record date for determining existing shareholders
entitled to subscribe for Units pursuant to the Existing Shareholder Exemption. Subscribers
purchasing Units under the Existing Shareholder Exemption will need to represent in writing that
they meet certain requirements of the Existing Shareholder Exemption, including that they were,
on or before the record date, a shareholder of the Company and continue to be a shareholder as
at the closing date. The aggregate acquisition cost to a subscriber under the Existing Shareholder
Exemption cannot exceed $15,000 in a 12-month period unless that subscriber has obtained
advice regarding the suitability of the investment and, if the subscriber is resident in a jurisdiction
of Canada, that advice has been obtained from a person that is registered as an investment dealer
in the jurisdiction.
As the Company is also relying on the Exemption for Sales to Purchasers Advised by Investment
Dealers, it confirms that there is no material fact or material change about the Company which
has not been generally disclosed. In addition to offering the Units pursuant to the Existing
Shareholder Exemption and the Exemption for Sales to Purchasers Advised by Investment
Dealers, the Units are also being offered pursuant to other available prospectus exemptions,
including sales to accredited investors. Unless the Company determines to increase the gross
proceeds of the Offering, if subscriptions received for the Offering based on all available
exemptions exceed the maximum Offering amount of $2,500,000, Units will be allocated on a
first come, first served basis.
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Completion of the Offering is subject to regulatory approval including, but not limited to, the
approval of the TSX Venture Exchange. The Common Shares and Warrants issued under the
Offering will be subject to a four month hold period from the date of the closing of the Offering.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 68,800 hectares covering
sections of 10 salars and two laguna complexes in Chile and 23,300 hectares in Argentina.
Lithium Chile also owns 5 properties, totaling 22429 hectares, that are prospective for gold, silver
and copper. Exploration efforts are continuing on Lithium Chile’s Carmona gold/silver/copper
property which lies in the heart of the Chilean mega porphyry gold/ silver/copper belt.
Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-
BB under the symbol “LTMCF”.
To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO
via email: [email protected] or alternately, Jose de Castro Alem, Argentina Manager via email
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.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. Any
securities referred to herein have not been and will not be registered under the United States Securities Act of 1933 (the "1933
Act") and may not be offered or sold in the United States or to or for the account or benefit of a U.S. person in the absence of
such registration or an exemption from the registration requirements of the 1933 Act and applicable U.S. state securities laws.
Forward Looking Statements
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 by the use of forward-looking terminology such as "expects", "anticipates", "aims to", "plans to" or "intends to" or
variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, this news
release contains forward-looking statements relating to, among other things: the closing of the Offering; the use of proceeds
from the Offering; and the Company's ability to obtain necessary approvals from the TSX Venture Exchange. 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;
the timely receipt of required regulatory approvals; the ability of the Company to obtain future financing on acceptable terms;
currency, exchange and interest rates; operating costs; the success the Company will have in exploring its prospects and the
results from such prospects. You are cautioned that the foregoing list of material factors and assumptions is not exhaustive.
Although the Company believes that the assumptions and factors on which such forward-looking statements are based are
reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance
that they will prove to be correct or that any of the events anticipated by such forward-looking statements will transpire or occur,
or if any of them do so, what benefits the Company will derive there from. Actual results could differ materially from those
currently anticipated due to a number of factors and risks including, but not limited to: fluctuations in market conditions, including
in securities markets; economic factors; the risk that the Offering will not be completed as anticipated or at all, including the risk
that the Company will not receive the approvals necessary in connection with the Offering; and the impact of general economic
conditions and the COVID-19 pandemic. The Company 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.