Lithium Chile spin out vote scheduled for Friday
Lithium Chile spin out vote scheduled for Friday, April 27, 2018
TSX Venture Exchange: "LITH"
CALGARY
,
April 24, 2018
/CNW/ - Lithium Chile Inc. ("
Lithium
Chile
" or the "
Company
") is pleased to remind shareholders that the Lithium
Chile shareholder meeting (the "
Meeting
") to approve the plan of arrangement (the "
Plan
"), whereby Lithium Chile will dividend the shares of
Kairos Metals Corp. to its shareholders, will take place this
Friday, April 27, 2018
. All persons holding shares of Lithium Chile on the dividend
record date will be entitled to the dividend of the Kairos Metals Corp. shares.
The proposed Plan, which remains subject to shareholder approval at the Meeting and certain regulatory approvals, will establish a separate
company, named Kairos Metals Corp., which will exploit Lithium Chile's copper/gold/silver properties. Lithium
Chile
has reserved a court date of
May 7, 2018
to seek final court approval for the Plan. The dividend record date is expected to be three to five business days after the final court
order date.
Steve Cochrane
, President and CEO of Lithium Chile, commented: "
This transaction will establish a separate company which will focus
exclusively on unlocking the value in our exciting, wholly-owned copper/gold/silver property portfolio. All Lithium Chile shareholders on
the dividend record date will receive a share dividend in the new company, Kairos Metals Corp
."
About Lithium Chile (TSX-V: LITH)
Lithium
Chile
is advancing a lithium property portfolio consisting of 148,500 hectares covering sections of 13 salars and 1 laguna complex in
Chile
.
The properties include 66 square kilometres on the Salar de Atacama which hosts the world's highest concentration lithium brine production and is
currently the source of approximately 30% of the world's lithium production. Lithium Chile also owns a significant copper/gold/silver property
portfolio consisting of 28,184 hectares over six different properties also located in
Chile
. Lithium
Chile's
common shares are listed on the TSX-V
under the symbol "LITH".
On Behalf of the Board of Directors,
LITHIUM
CHILE
INC.
Steven Cochrane
President & CEO
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
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 information can be identified by the use of forward-looking
terminology such as "expects", "believes", "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,
management of the Company's views regarding its properties and the ability of the Company to conduct exploration on its properties, and the
proposed Spin-Out Transaction.
You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific material factors and assumptions include,
but are not limited 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; and the success the Company will have in exploring its prospects and the results from such efforts. Accordingly, readers should not place
undue reliance on forward-looking statements. 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 press release are expressly qualified by this cautionary
statement.
SOURCE
Lithium Chile Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2018/24/c2363.html
%SEDAR: 00030645E
For further information:
To find out more about Lithium Chile, please contact Steven Cochrane, President and CEO at (403) 852-7117 or
Jeremy Ross, VP Business Development, at (604) 537-7556 or via email to: [email protected]
CO: Lithium Chile Inc.
CNW 09:00e 24-APR-18