LTMCF - Lithium Chile Announces Proposed Private Placement and Appointment of Vice President Corporate Development
(TheNewswire)
CALGARY, ALBERTA – TheNewswire- December 20, 2021 – Lithium Chile Inc.(“Lithium Chile” or the “Company”) (TSXV: LITH)(OTC:LTMCF) announces that it plans to completea non-brokered private placement of up to 7,500,000 units of theCompany (“Units”) at a price of $0.70 per Unit, for aggregategross proceeds of up to $5,250,000. (the “Offering”), afterreceiving unsolicited interest from an institutional investor. EachUnit 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 $0.85 per CommonShare for a period of 24 months from the date of closing of theOffering. The Offering is expected to be purchased by oneinstitutional investor. The proceeds of the Offering will be used forworking capital and to pay the expenses of the Offering.
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 will be subject to a four month hold period from the date ofthe closing of the Offering.
ADDITION OF VICE PRESIDENT, CORPORATEDEVELOPMENT
The Company is pleased toannounce that Michelle DeCecco has joined the Company as VicePresident, Corporate Development.
Michelle DeCecco brings deep capital markets, investorrelations and corporate development experience to Lithium Chile, withover 20 years of experience in the public sector. Throughout hercareer, Ms. DeCecco has been responsible for developing and executingoverall corporate strategy including acquisitions, joint ventures,strategic partnerships, with a strong focus on shareholdercommunications. Ms. DeCecco holds a Master of Business Administrationfrom the University of Fredericton receiving honours in bothaccounting and finance.
"We are extremely pleased to have Michelle jointhe Lithium Chile team, bringing her passion and experience incorporate development, public markets and investor relations to theCompany. The addition of Ms. DeCecco will support our continued focusin unlocking potential value from our core assets while continuing toexecute our exploration plan. Her support will be an invaluableaddition to the Lithium Chile team."
In connection with her hiring on December 15, 2021, Ms.DeCecco received an option to purchase 300,000 shares of theCompany’s common stock, with an exercise price of $0.74 per share,which is equal to the closing price on the grant date.
ON BEHALF OF THE BOARD, SteveCochrane, President and CEO
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 23,300 hectares in Argentina.
Lithium Chile also owns 5 properties, totaling 22429hectares, 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
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 information can beidentified by the use of forward-looking terminology such as"expects", "believes", "aims to","plans to" or "intends to" or variations of suchwords and phrases or statements that certain actions, events orresults "will" occur.
You are cautioned that the following list of materialfactors and assumptions is not exhaustive. Specific material factorsand assumptions include but are not limited to: the general stabilityof the economic and political environment in which the Companyoperates; the timely receipt of required regulatory approvals; theability of the Company to obtain future financing on acceptable terms;currency, exchange and interest rates; operating costs; the successthe Company will have in exploring its prospects and the results fromsuch prospects. Accordingly, readers should not place undue relianceon forward-looking statements. The Company does not undertake toupdate any forward-looking statements herein, except as required byapplicable securities laws. All forward-looking statements containedin this news release are expressly qualified by this cautionarystatement.
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