LITH:CC - Lithium Chile Provides Update on Sale of Arizaro Project
(TheNewswire)
TSX Venture Exchange: LITH
CALGARY, ALBERTA – TheNewswire - April 9, 2025 – Lithium Chile Inc . (“ LithiumChile ” or the “ Company ”), withreference to its prior new releases dated December 19, 2024, January15, 2025, and February 20, 2025, is pleased to provide an update onthe sale of its flagship Arizaro project , Argentina.
The due diligence was completed at the end of Februarywith the first draft of the definitive agreement (the “DefinitiveAgreement”) presented to Lithium Chile on March 3 rd , 2025. Bothparties have worked collaboratively to address questions arising fromthe due diligence process, revising the Definitive Agreementaccordingly. The meetings to date have been proactive andcollaborative with both parties anxious to have the DefinitiveAgreement signed as soon as practicable.
The Company recently held a highly productive in-personmeeting with key representatives including the Buyers’ seniorexecutives and legal advisors. These meetings have significantlyaccelerated progress toward finalizing the Definitive Agreement, withboth parties reaffirming their commitment to complete thetransaction.
The Buyer has requested to finalize and execute theDefinitive Agreement, following their upcoming visit to Salta,Argentina. Execution of the Definitive Agreement will trigger keymilestones, including:
A proposed US Dollar bank deposit from the Buyer to theaccount of the Company.
Commencement of local regulatory approvalprocesses.
The Buyer’s planned visit to Salta will be led by asenior management delegation including members of the Board ofDirectors and legal counsel, representatives from the Company’saccountants and investment banking advisors, and local regulatoryofficials. The visit will include meetings with the local Argentineprovincial authorities such as REMSa and the Ministry of Mining,underscoring the Buyer’s long-term commitment to investing in theregion and building a world-class lithium production operation.
“We are encouraged by the strong alignment andmomentum between both parties,” said Steve Cochrane, President &CEO. “This transaction is a transformational opportunity for LithiumChile and for the Province of Salta, and we are working diligently tofinalize the definitive agreement and move toward closing.”
The Company will provide further updates as milestonesare achieved and material developments occur.
Corporate Update
Lithium Chile also announces that it has entered intoan arm’s length consulting agreement (the “Agreement”) with athird party (the “Provider”) for the purposes of providing theCompany with Corporate Advisory Services. The Agreement is for oneyear and the Provider will be paid in four instalments of $45,000,payable in Common Shares of the Company (the “Shares”). TheCompany will pay the first two instalments by issuing 169,811 Sharesat a deemed price of $0.53 per Share, and the remaining twoinstalments will be paid in Shares using the market price on the dateof issuance. Completion of the Agreement is subject to regulatory approval including, but not limited to, theapproval of the TSX Venture Exchange. The securities issued pursuantto the Agreement are subject to a four month hold period from the dateof issuance.
ABOUT LITHIUM CHILE
Lithium Chile Inc. is an exploration company with aportfolio of 11 properties spanning 107,936 hectares in Chile and29,245 hectares on the Salar de Arizaro in Argentina. The Company hassuccessfully advanced its Arizaro project with the completion of an NI43-101 compliant Resource Report followed by a Preliminary EconomicAssessment and then a Prefeasibility Study, all of which areaccessible on SedarPlus.ca under Lithium Chile’s profile.
Lithium Chile’s common shares are listed on the TSX-Vunder the symbol “LITH” and on the OTCQB Under the symbol“LTMCF”.
To find out more about Lithium Chile, please contactSteven Cochrane, President and CEO via email: steve@lithiumchile.ca or Michelle DeCecco, COO via email: michelle@lithiumchile.ca orphone: 587-393-1990.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE.
FORWARD LOOKING STATEMENTS AND RISKFACTORS:
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 using 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. Such forward-looking statements arebased on various assumptions and factors that may prove to beincorrect, including, but not limited to, factors and assumptions withrespect to the general stability of the economic and politicalenvironment in which the Company operates and the timely receipt ofrequired regulatory approvals.
Such statements include statements with respect to: (i)closing of the proposed sale remains subject to significant risksincluding obtaining necessary regulatory body approvals including thatof the TSX Venture Exchange; (ii) Closing also remains subject tothe completion of Definitive Agreements in form satisfactory to theparties to the transaction and remains subject to the planned sitevisit by the Buyer; (iii) the visit will includemeetings with the local Argentine provincial authorities such as REMSaand the Ministry of Mining; (iv) the Buyer’s long-term commitment toinvesting in the region and building a world-class lithium productionoperation; (v) the proposed US Dollar bankdeposit from the Buyer to the account of the Company; (vi)commencement of the local Argentine regulatory approval process andthe Buyer’s local regulatory approval process; (vii) the expectationthat the transaction is a transformational opportunity for LithiumChile and for the Province of Salta; (viii) completion of theAgreement is subject to regulatory approval including, but not limitedto, the approval of the TSX Venture Exchange.
Readers are cautioned that the foregoing risk factorsare not exhaustive. Undue reliance should not be placed on theforward-looking statements because Lithium Chile can give no assurancethat they will prove to be correct or that any of the eventsanticipated by forward-looking statements will transpire or occur, orif any of them do, what benefits Lithium Chile will derive therefrom.Similarly, the risk factors listed above are not exhaustive and otherrisk factors that have not been anticipated may become apparent asLithium Chile proceeds to closing of the proposed sale of the Arizaro project . LithiumChile does not undertake to update any forward-looking statementsherein, except as required by applicable securities laws. All forward-looking statements contained inthis news release are expressly qualified by this cautionarystatement.
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