TSX Challenge Change (TSX-V): LIT
Frankfurt Reserve Change (FRA): OAY3
OTCQX Challenge Marketplace (OTC): PNXLF
VANCOUVER, BC, Nov. 6, 2024 /PRNewswire/ – Argentina Lithium & Power Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF), (“Argentina Lithium” or the “Company”) declares that the Corporate has made an utility to the TSX Challenge Change to increase the time period of the exceptional warrants as follows:
- 35,767,948 warrants which might be poised to run out on November 21, 2024 to be prolonged to November 21, 2027. 36,340,948 warrants had been initially issued on November 21, 2022 as a part of the gadgets issued beneath a personal placement finished through the Corporate in November 2022. Next to the issuance, 573,000 warrants had been exercised.
The workout value of the warrants will stay at $0.40. Each and every warrant, when exercised, might be exchangeable for one regular percentage of the Corporate.
The Corporate additional reviews that 30,000,000 (held through insiders that aren’t officials or administrators) and 305,000 (held through officials and administrators) of the 35,767,948 Warrants are held through insiders of the Corporate. As such, the extension of such Warrants constitutes, to that extent, a “related party transaction” throughout the which means of Change Coverage 5.9 and Multilateral Software 61-101 – Coverage of Minority Shareholders (“MI 61-101”). The Corporate has relied at the exemptions from the valuation and minority shareholder approbation necessities of MI 61-101 (and Change Coverage 5.9), because the honest marketplace price of the Warrants held through the insiders does now not exceed 25% of the marketplace capitalization of the Corporate.
The modification is topic to the approbation of the TSX Challenge Change (“TSXV”).
About Argentina Lithium
Argentina Lithium & Power Corp is keen on obtaining prime trait lithium initiatives in Argentina and advancing them in opposition to manufacturing to deliver to satisfy the rising international call for from the battery sector. The Corporate’s recent strategic investment through Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the crucial global’s automakers, parks Argentina Lithium in a novel place to discover, manufacture and progress its 4 key initiatives masking over 67,000 hectares within the Lithium Triangle of Argentina. Control has a protracted historical past of good fortune within the useful resource sector of Argentina and has assembled one of the maximum potential lithium homes on the earth famend “Lithium Triangle”. The Corporate is a member of the Grosso Staff, a useful resource control staff that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
“Nikolaos Cacos”
_____________________________________
Nikolaos Cacos, President, CEO and Director
Neither TSX Challenge Change nor its Law Products and services Supplier (as that time period is outlined in insurance policies of the TSX Challenge Change) accepts accountability for the adequacy or accuracy of this shed.
This information shed incorporates forward-looking statements. Usually, forward-looking statements may also be recognized through the worth of terminology equivalent to “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and matching expressions. Ahead-looking statements cope with time occasions and situations and due to this fact contain inherent dangers and uncertainties. All statements, alternative than statements of ancient reality, that cope with actions, occasions or traits control of the Corporate believes, expects or anticipates will or would possibly happen going forward, together with, with out limitation, statements concerning the Corporate’s plans for its mineral homes; the Corporate’s industry technique, plans and outlooks; the time monetary or running efficiency of the Corporate; and time exploration and running plans are forward-looking statements.
SOURCE Argentina Lithium & Power Corp.
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