- Argentina Lithium & Energy (LIT) has closed the previously announced Exploration and Purchase Option Agreement to acquire the Rincon West and Pocitos properties
- Terms of the option include the issuance of 750,000 shares on signing, $500,000 worth of shares over a 12-month period and cash payments totalling US$4,200,000 over 36 months
- The company has issued 750,000 common shares and made a cash payment of US$150,000
- Miles Rideout, VP of Exploration at Argentina Lithium, sat down with Shoran Devi to discuss the acquisition
- Argentina Lithium & Energy Corp (LI) is focused on acquiring high-quality lithium projects in Argentina
- Argentina Lithium & Energy Corp. (LIT) opened trading at C$0.53 per share
Argentina Lithium & Energy (LIT) has closed the Exploration and Purchase Option Agreement.
Under the terms of the agreement, Argentina Lithium will acquire a 100 per cent interest in the Rincon West and Pocitos properties.
The 2,370-hectare Rincon West and 15,857-hectare Pocitos properties are located in the heart of the prolific lithium district in Salta Province.
The Rincon West prospect is a single mining concession with an area of 2,370 hectares, located on the west side of the Rincon Salar.
The Pocitos prospect is a group of eleven contiguous mining concessions totalling 15,857 hectares, located on the western side of the Pocitos Salar.
Terms of the option include issuing 750,000 shares of Argentina Lithium to the vendor on signing plus $500,000 worth of shares over a 12-month period and cash payments totalling US$4,200,000 over 36 months.
The company has issued 750,000 common shares and made a cash payment of US$150,000.
Miles Rideout, VP of Exploration at Argentina Lithium sat down with Shoran Devi to discuss the acquisition.
Argentina Lithium & Energy Corp (LI) 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.
Argentina Lithium & Energy Corp. (LIT) opened trading at C$0.53 per share.
