LITH:CC - LITHIUM CHILE Announces Stock Option Grants and Filing of Early Warning Report
(TheNewswire)
CALGARY, ALBERTA – TheNewswire- May 18, 2022 – Lithium Chile Inc. (TSXV:LITH) (OTC:LTMCF) (“ Lithium Chile ” or the “ Company ”) is pleased to announce that,subject to regulatory approval, it has granted 1,500,000 stock optionsto directors, officers, and consultants of the Company. The stockoptions are issued with an exercise price of $0.76 and will expire May17, 2027.
Early Warning Report
In connection with the closing of a private placement(" PrivatePlacement ") on May 16, 2022, the Companyissued 29,380,000 common shares (" Common Shares ")at a price of $0.95 per Common Share to Chengze Lithium InternationalLimited (" Chengze "), a wholly owned subsidiary ofChengxin Lithium Group, for total consideration of $27,911,000.
Prior to the closing of the Private Placement, Chengzeowned 8,571,440 Common Shares, representing 5.14% of the issued andoutstanding Common Shares at that time.
Immediately after the closing of the Private Placement,Chengze owned 37,951,440 Common Shares, representing 19.35% of theissued and outstanding Common Shares.
The Common Shares are being held by Chengze forinvestment purposes and Chengze intends to increase or decrease itsholdings in the Company depending on market conditions and ascircumstances warrant.
A report respecting this acquisition has been filedwith the applicable securities commissions using the Canadian Systemfor Electronic Document Analysis and Retrieval ( SEDAR ) and isavailable for viewing on the Company's profile at www.sedar.com .
About Lithium Chile
Lithium Chile is advancing a lithium property portfolioconsisting of 80,938 hectares covering sections of 11 salars and 2laguna complexes in Chile and 23,300 hectares in Argentina.
Lithium Chile also owns 5 properties, totaling 22,429hectares that are prospective for gold, silver and copper. Explorationefforts are continuing on Lithium Chile’s Carmona gold/silver/copperproperty which lies in the heart of the Chilean mega 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 , Jose de CastroAlem, Argentina Manager via email jdecastroalem@gmail.com or Michelle DeCecco, Vice President of CorporateDevelopment via email michelle@lithiumchile.ca orat 403-390-9095.
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.
Forward Looking Statements
This news release may contain certainforward-looking information and forward-looking statements within themeaning of applicable securities legislation (collectively"forward-looking statements"). Generally, forward-lookingstatements can be identified by the use of forward-looking terminologysuch as "expected", "anticipated", "aimsto", "plans to" or "intends to" or variationsof such words and phrases or statements that certain actions, eventsor results "will" occur. In particular, this news releasecontains forward-looking statements relating to regulatory approval ofthe stock option grants. Such forward-looking statements are based onvarious assumptions and factors that may prove to be incorrect,including, but not limited to, factors and assumptions with respectto: the general stability of the economic and political environment inwhich the Company operates; the timely receipt of required regulatoryapprovals; the ability of the Company to obtain future financing onacceptable terms; currency, exchange and interest rates; operatingcosts; the success the Company will have in exploring its prospectsand the results from such prospects. You are cautioned that theforegoing list of material factors and assumptions is not exhaustive.Although the Company believes that the assumptions and factors onwhich such forward-looking statements are based are reasonable, unduereliance should not be placed on the forward-looking statementsbecause the Company can give no assurance that they will prove to becorrect or that any of the events anticipated by such forward-lookingstatements will transpire or occur, or if any of them do so, whatbenefits the Company will derive there from. Actual results coulddiffer materially from those currently anticipated due to a number offactors and risks including, but not limited to: fluctuations inmarket conditions, including securities markets; economic factors; therisk that the new lithium or cesium exploration tender processes doesnot yield the anticipated benefits to the Company, including the riskthat the Company will not receive the approvals necessary and theimpact of general economic conditions and the COVID-19 pandemic. TheCompany does not undertake to update any forward-looking statementsherein, except as required by applicable securities laws. Allforward-looking statements contained in this news release areexpressly qualified by this cautionary statement.
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