LTMCF - Lithium Chile Extends Maturity of Loan to San Lorenzo Gold and Receives 500000 Shares in San Lorenzo as Consideration
(TheNewswire)
CALGARY, ALBERTA, - TheNewswire- JULY 2, 2021 – LithiumChile Inc. (“ LithiumChile ” or the “ Company ”)( TSXV:LITH) announces that it has entered intoan agreement to amend the repayment terms of the CAD$1,000,000 loan(the " Loan ") that is owed by a third party, San Lorenzo Gold Corp.(" San Lorenzo "), to extend the maturity date of the Loan fromNovember 30, 2021 to November 30, 2022. As consideration for theextension of the maturity date, and subject to the acceptance of theTSX Venture Exchange, the Company will be issued 500,000 common sharesin the capital of San Lorenzo (the " Shares "). TheShares will be subject to a hold period expiring four months and oneday from the date of their issuance.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolioconsisting of 71,900 hectares covering sections of 10 salars and twolaguna complexes in Chile and now, 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, Terry Walker VP Exploration email twalker@goldenrock.cl
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.
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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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