(TheNewswire)
CALGARY, ALBERTA – TheNewswire - January 24, 2022 – Lithium Chile Inc.(“Lithium Chile” or the “Company”) (TSXV:LITH) (OTC:LTMCF) is pleased to announce that it has closed its subscriptionbooks, and due to strong investor demand for its recently announcednon-brokered private placement of units of theCompany (“ Units ”) at a price of $0.70 per Unit, ithas additionally increased the maximum size of the offering from up to7,500,000 Units for aggregate gross proceeds of up to $5,250,000 to upto 10,060,000 Units for gross proceeds of up to $7,042,000 (the" Offering "). Each Unit will be comprised ofone (1) common share of the Company (“ Common Share ”) andone (1) Common Share purchase warrant (“ Warrant ”). EachWarrant shall be exercisable at $0.85 per Common Share for a period of24 months from the date of closing of the Offering. Further to theCompany's news release of December 20, 2021, the one institutionalinvestor that was expected to purchase the Offering was unable tocomplete its subscription within the deadlines set by Lithium Chile sothe Company has terminated that potential subscription. The Offeringis now expected to be purchased by several subscribers including astrategic Asian investor that is anticipated to purchase up to$3,000,000 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.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolioconsisting of 69,200 hectares covering sections of 10 salars and twolaguna complexes in Chile and 23,300 hectares in Argentina.
Lithium Chile also owns 5 properties, totaling 20,429hectares, 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 Company's ability to obtain necessary approvals from the TSXVenture Exchange. Such forward-looking statements are based on variousassumptions and factors that may prove to be incorrect, including, butnot limited to, factors and assumptions with respect to: the generalstability of the economic and political environment in which theCompany operates; the timely receipt of required regulatory approvals;the ability of the Company to obtain future financing on acceptableterms; currency, exchange and interest rates; operating costs; thesuccess the Company will have in exploring its prospects and theresults from such prospects. You are cautioned that the foregoing listof material factors and assumptions is not exhaustive. Although theCompany believes 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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