Lithium Chile Enhances Technical Team and Board of Directors; Appoints Leading Lithium Expert, and Grants Stock Options
Lithium Chile Enhances Technical Team and
Board of Directors; Appoints Leading Lithium
Expert, and Grants Stock Options
TSX Venture Exchange: LITH
OTC-QB: LTMCF
CALGARY
,
Jan. 8, 2019
/CNW/ -
Lithium Chile Inc.
("
Lithium
Chile
" or the "
Company
") is
pleased to announce that it has appointed South American lithium expert, Jose de Castro Alem, to
the Board of Directors and as Manager of Lithium Operations. Mr. de Castro is a recognized
pioneer in lithium brine exploration, development and production in
South America
. He brings over 20
years of lithium brine experience, as well as a significant track record in the lithium triangle, to the
Company's management team. Jose de Castro Alem's appointment is subject to regulatory
approval.
Career Highlights
Orocobre Limited ("Orocobre") - 2010-2015
: Mr. de Castro was instrumental in Orocobre's
growth from a sub-
$10 million
market cap to over
$1 billion
market cap. During this time, he was
responsible for everything from salar exploration to development of evaporation ponds and
design/development of the initial plant. Mr. de Castro oversaw the
$300 million-dollar
lithium
carbonate plant from definitive Feasibility Study until complete commercial operation. Mr. de Castro
was also extensively involved with building relationships with local communities through to the senior
levels of government. He was also involved in the successful joint venture between Orocobre and
Japan
based Toyota Tsusho Group.
NRG Metals Inc. - 2016-2018
: Mr. de Castro was Vice President Operations for NRG Metals Inc.
and played a key role in NRG Metals' initial 43-101 lithium carbonate resource report.
FMC Corporation ("FMC") - 1997-2003
: During his years with FMC, Mr. de Castro was
responsible for the lithium operations and production from the solar evaporation ponds, and lithium
carbonate production from the processing plant.
Jose de Castro
is a graduate of the
National University
of Salta,
Argentina
, with a degree in
Chemical Engineering.
Steve Cochrane President
and CEO of Lithium Chile, commented, "
Jose de Castro
is one of the
leading lights in the South American lithium space and we are delighted that he has agreed to join
us as both Manager of lithium operations and Board Director. Lithium
Chile
has an exceptional
technical team and one of the largest lithium portfolios in
Chile
. With the additional expertise that
Jose brings to the Company, we are looking forward to a very active and productive year ahead.
"
Jose de Castro Alem Manager of Lithium Operations commented, "
I am very pleased to join Lithium
Chile because of their outstanding portfolio of lithium prospects, their exceptional exploration team,
and the new possibilities in
Chile
.
Northern Chile
is one of the most mining friendly jurisdictions in
the world, with clear rules and great infrastructure. I look forward to working with Lithium Chile's
management team in advancing their projects quickly and efficiently."
The Company also announces the granting of stock options to purchase a total of 700,000 common
shares of the Company, an option to purchase 400,000 common shares to Mr. de Castro and an
option to purchase 300,000 common shares to a consultant, subject to regulatory approval. The
options were issued with an exercise price of
$0.52
per share, vest as to one half (1/2) immediately
and the remaining one half (1/2) on the first anniversary of the grant date and expire five years from
the grant date.
About Lithium Chile
Lithium
Chile
is advancing a lithium property portfolio consisting of 159,950 hectares covering
sections of 14 salars and 1 laguna complex in
Chile
.
Lithium
Chile's
common shares are listed on the TSX-V under the symbol "
LITH
" and on the OTC-
QB under the symbol "
LTMCF
".
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 news release.
Forward Looking Statements
This news release may contain certain forward-looking information and statements, including without
limitation obtaining regulatory approval for the appointment of Jose de Castro Alem and the granting
of the stock options. All statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and uncertainties. There can
be no assurance that such information will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking statements. A description of assumptions used to develop
such forward-looking information and a description of risk factors that may cause actual results to
differ materially from forward-looking information can be found in Lithium Chile's disclosure
documents on the SEDAR website at
www.sedar.com
. Lithium Chile does not undertake to update
any forward-looking information except in accordance with applicable securities laws.
SOURCE
Lithium Chile Inc.
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For further information:
about Lithium Chile Inc., please contact Steven Cochrane, President and
CEO via email: [email protected] or alternately, Jeremy Ross, VP Business Development, at
(604) 537-7556 or via email: [email protected]
CO: Lithium Chile Inc.
CNW 08:00e 08-JAN-19