LTMCF - Lithium Chile Announces Closing of Previously Announced $0.60 Unit Financing (TSXV:LITH) (OTCBB:LTMCF)
(TheNewswire)
CALGARY, ALBERTA – TheNewswire- November 10, 2021 –Lithium Chile Inc. (“ LithiumChile ” or the “ Company ”) (TSXV:LITH)(OTCBB:LTMCF) is pleasedto announce that it has closed its recently announced non-brokeredprivate placement of units of the Company(“ Units ”) at a price of $0.60 per Unit, issuing 6,922,817 Units for aggregate gross proceeds of$4,153,690.20 (the " Offering "). EachUnit is comprised of one (1) common share of the Company(“ Common Share ”) and one (1) Common Share purchase warrant(“ Warrant ”). Each Warrant is exercisable at $0.75 per Common Sharefor a period of 24 months from the date of closing of the Offering.Lithium Chile paid cash commissions to qualified non-related partiesof $192,144.51. The proceeds of the Offeringwill be used for working capital and to pay the expenses of theOffering.
Completion of the Offering is subject to regulatoryapproval including, but not limited to, the approval of the TSXVenture Exchange. The Common Shares and Warrants issued under theOffering are subject to a four month hold period from the date of theclosing of the Offering.
The Company further announces that it has engagedClarkham Capital in providing investor relations and digital marketingservices throughout Europe. There were no options issued to Clarkhamas part of this engagement.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolioconsisting of 68,800 hectares covering sections of 10 salars and twolaguna complexes in Chile and 1 property of 23,300 hectares inArgentina.
Lithium Chile also owns 5 properties, totaling 22,429hectares, that are prospective for gold, silver and copper.Exploration efforts are continuing on Lithium Chile’s Carmonagold/silver/copper property which lies in the heart of the Chileanmega porphyry gold/ silver/copper belt.
Lithium Chile’s common shares are listed on the TSX-Vunder the symbol “ LITH ” and on the OTC-BB under the symbol“ LTMCF ”.
To find out more about Lithium Chile Inc., pleasecontact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or alternately, Jose de Castro Alem, Argentina Manager viaemail jdecastroalem@gmail.com
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
NOT FOR RELEASE INTHE UNITED STATES OF AMERICA
This news release does not constitute an offer to sellor the solicitation of an offer to buy any securities in the UnitedStates. Any securities referred to herein have not been and will notbe registered under the United States Securities Act of 1933 (the" 1933 Act ") and may not be offered or sold in the United Statesor to or for the account or benefit of a U.S. person in the absence ofsuch registration or an exemption from the registration requirementsof the 1933 Act and applicable U.S. state securities laws.
Forward Looking Statements
This news release may contain certain forward-lookinginformation and forward-looking statements within the meaning ofapplicable securities legislation (collectively "forward-lookingstatements"). Generally, forward-looking statements can beidentified by the use of forward-looking terminology such as"expected", "anticipated", "aims to","plans to" or "intends to" or variations of suchwords and phrases or statements that certain actions, events orresults "will" occur. In particular, this news releasecontains forward-looking statements relating to, among other things:the use of proceeds from the Offering; and the Company's ability toobtain necessary approvals from the TSX Venture Exchange. Suchforward-looking statements are based on various assumptions andfactors that may prove to be incorrect, including, but not limited to,factors and assumptions with respect to: the general stability of theeconomic and political environment in which the Company operates; thetimely receipt of required regulatory approvals; the ability of theCompany to obtain future financing on acceptable terms; currency,exchange and interest rates; operating costs; the success the Companywill have in exploring its prospects and the results from suchprospects. You are cautioned that the foregoing list of materialfactors and assumptions is not exhaustive. Although the Companybelieves that the assumptions and factors on which suchforward-looking statements are based are reasonable, undue relianceshould not be placed on the forward-looking statements because theCompany can give no assurance that they will prove to be correct orthat any of the events anticipated by such forward-looking statementswill transpire or occur, or if any of them do so, what benefits theCompany will derive there from. Actual results could differ materiallyfrom those currently anticipated due to a number of factors and risksincluding, but not limited to: fluctuations in market conditions,including securities markets; economic factors; the risk that the newlithium exploration tender process does not yield the anticipatedbenefits to the Company, if at all; the risk that the Offering willnot be completed as anticipated or at all, including the risk that theCompany will not receive the approvals necessary in connection withthe Offering; and the impact of general economic conditions and theCOVID-19 pandemic. The Company does not undertake to update anyforward-looking statements herein, except as required by applicablesecurities laws. All forward-looking statements contained in this newsrelease are expressly qualified by this cautionary statement.
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