American Battery Materials and XTC Lithium Limited Announce Letter of Intent for Strategic Partnership in Carachi Lithium Project
American Battery Materials (OTC PINK:BLTH) and XTC Lithium have signed a non-binding Letter of Intent (LOI) for a strategic partnership to develop the Carachi Lithium Project in Argentina's Catamarca Province. The project is located in the renowned Lithium Triangle, known for its rich lithium deposits essential for EV batteries and renewable energy storage.
Under the LOI terms, BLTH can acquire up to a 50% interest in the project. Upon securing a 10% interest, BLTH will have the right to enter into a joint venture agreement with XTC for continued exploration and development. The transaction remains subject to a definitive agreement, statutory approvals, and securing financing.
American Battery Materials (OTC PINK:BLTH) e XTC Lithium hanno firmato una Lettera di Intenti (LOI) non vincolante per una partnership strategica per sviluppare il Carachi Lithium Project nella provincia di Catamarca, in Argentina. Il progetto si trova nel rinomato Triangolo del Litio, noto per i suoi ricchi depositi di litio essenziali per le batterie dei veicoli elettrici e lo stoccaggio di energia rinnovabile.
Secondo i termini della LOI, BLTH può acquisire fino a un 50% di interesse nel progetto. Una volta assicurato un interesse del 10%, BLTH avrà il diritto di entrare in un accordo di joint venture con XTC per la continua esplorazione e sviluppo. La transazione rimane soggetta a un accordo definitivo, approvazioni statutarie e al reperimento di finanziamenti.
American Battery Materials (OTC PINK:BLTH) y XTC Lithium han firmado una Carta de Intención (LOI) no vinculante para una asociación estratégica para desarrollar el Carachi Lithium Project en la provincia de Catamarca, Argentina. El proyecto está ubicado en el renombrado Triángulo del Litio, conocido por sus ricos depósitos de litio esenciales para las baterías de vehículos eléctricos y el almacenamiento de energía renovable.
Según los términos de la LOI, BLTH puede adquirir hasta un 50% de interés en el proyecto. Al asegurar un interés del 10%, BLTH tendrá el derecho de entrar en un acuerdo de empresa conjunta con XTC para la exploración y desarrollo continuos. La transacción está sujeta a un acuerdo definitivo, aprobaciones estatutarias y la obtención de financiamiento.
American Battery Materials (OTC PINK:BLTH)와 XTC Lithium은 아르헨티나 카타마르카 주의 Carachi Lithium Project를 개발하기 위한 전략적 파트너십을 위한 비구속적 의향서(LOI)를 체결했습니다. 이 프로젝트는 전기차 배터리 및 재생 에너지 저장에 필수적인 풍부한 리튬 매장량으로 알려진 유명한 리튬 삼각지대에 위치해 있습니다.
LOI 조건에 따라 BLTH는 프로젝트에서 최대 50%의 지분을 인수할 수 있습니다. 10%의 지분을 확보하면 BLTH는 XTC와의 공동 투자 계약을 체결하여 지속적인 탐사 및 개발을 진행할 권리를 갖게 됩니다. 거래는 최종 계약, 법적 승인 및 자금 확보에 따라 달라집니다.
American Battery Materials (OTC PINK:BLTH) et XTC Lithium ont signé une Lettre d'Intention (LOI) non contraignante pour un partenariat stratégique visant à développer le Carachi Lithium Project dans la province de Catamarca, en Argentine. Le projet est situé dans le célèbre Triangle du Lithium, connu pour ses riches dépôts de lithium essentiels pour les batteries de véhicules électriques et le stockage d'énergie renouvelable.
Selon les termes de la LOI, BLTH peut acquérir jusqu'à un 50 % d'intérêt dans le projet. Après avoir sécurisé un intérêt de 10 %, BLTH aura le droit de conclure un accord de coentreprise avec XTC pour la poursuite de l'exploration et du développement. La transaction est soumise à un accord définitif, à des approbations statutaires et à l'obtention de financements.
American Battery Materials (OTC PINK:BLTH) und XTC Lithium haben ein nicht verbindliches Absichtsschreiben (LOI) für eine strategische Partnerschaft zur Entwicklung des Carachi Lithium Project in der Provinz Catamarca, Argentinien, unterzeichnet. Das Projekt befindet sich im renommierten Lithium-Dreieck, das für seine reichen Lithiumvorkommen bekannt ist, die für Batterien von Elektrofahrzeugen und die Speicherung erneuerbarer Energien unerlässlich sind.
Gemäß den Bedingungen des LOI kann BLTH bis zu ein 50%iges Interesse an dem Projekt erwerben. Nach der Sicherstellung eines 10%igen Anteils hat BLTH das Recht, einen Joint-Venture-Vertrag mit XTC für die fortgesetzte Exploration und Entwicklung abzuschließen. Die Transaktion steht unter dem Vorbehalt eines endgültigen Vertrags, gesetzlicher Genehmigungen und der Sicherstellung von Finanzierungen.
- Potential acquisition of up to 50% interest in a lithium project in the resource-rich Lithium Triangle
- Strategic entry into EV battery supply chain through lithium exploration
- Partnership with experienced operator with proven track record in project development
- Non-binding LOI subject to multiple conditions including financing
- No guaranteed timeline for definitive agreement completion
- Project still in exploration phase with no immediate revenue potential
GREENWICH, CT / ACCESS Newswire / March 27, 2025 / American Battery Materials, Inc. (OTC PINK:BLTH) (ABM), a Delaware-based corporation dedicated to advancing lithium resource development, and XTC Lithium Limited (XTC), an Australian corporation, are pleased to announce the signing of a non-binding Letter of Intent (LOI) outlining summary terms of a proposed partnership to develop the Carachi Lithium Project in Argentina's Catamarca Province.
The Carachi Lithium Project, held by XTC's wholly owned Argentine subsidiary, XTC Lithium Argentina SAR (XLA), comprises several exploration properties within Argentina's renowned Lithium Triangle. This region is globally recognized for its rich lithium deposits, a critical component in the production of batteries for electric vehicles and renewable energy storage.
Under the terms of the LOI, ABM will have the opportunity to acquire up to a
"This Letter of Intent represents a pivotal step in our strategy to expand our footprint in the global lithium market," said David E. Graber, CEO of American Battery Materials, Inc. "Partnering with XTC Lithium LTD, gives us access to a promising project in the heart of the Lithium Triangle, and we look forward to working together to unlock its full potential."
Mr. Graber also said, "Beyond proven geological data on the salar, Xantippe (XTC Lithium) has an excellent operating team in place that is personally invested in the project. Those individuals have a successful track record in identifying, developing and financing projects all the way through a sale."
John Featherby, Chairman of XTC Lithium Limited, added, "We are excited to collaborate with ABM on the Carachi Lithium Project. Their expertise and shared commitment to sustainable resource development make them an ideal partner as we advance this project toward production."
Although ABM has entered into the LOI with respect to a proposed partnership to develop the Carachi Lithium Project, such transaction is subject to the execution and delivery of a definitive agreement and the satisfaction of the closing conditions which will be contained therein, including securing all necessary statutory, corporate and regulatory approvals and obtaining cash proceeds from financing arrangements. There can be no assurance that a definitive agreement will be entered into, or that the Carachi Lithium Project transaction will be consummated upon the terms set forth in the LOI, or otherwise.
The proposed partnership underscores both companies' commitment to meeting the growing global demand for lithium, driven by the rapid expansion of the clean energy sector. The parties will now work toward finalizing a definitive agreement and obtaining all required approvals to move forward with the transaction.
About American Battery Materials, Inc.
American Battery Materials, Inc., headquartered in Greenwich, Connecticut, is a U.S.-based company focused on the exploration, acquisition, and development of lithium and other battery materials critical to the global energy transition. ABM is committed to sustainable practices and delivering value to its stakeholders through strategic partnerships and innovative projects.
About XTC Lithium Limited
XTC Lithium Limited, based in Wollstonecraft, NSW, Australia, is an exploration and development company with a focus on lithium resources in Argentina and other regions. Through its subsidiary, XTC Lithium Argentina SAR, the company is advancing projects in the Lithium Triangle, a globally significant region for lithium production.
For Media Inquiries:
American Battery Materials, Inc.
500 West Putnam Avenue, Suite 400
Greenwich, CT 06830
+1 800-998-7962
ir@americanbatterymaterials.com
XTC Lithium Limited
63 Sinclair Street
Wollstonecraft NSW 2065, Australia
Forward-Looking Statements: This press release contains forward-looking statements, including statements regarding the potential partnership between ABM and XTC, the development of the Carachi Lithium Project, and the expected outcomes of the proposed transaction. Such statements are subject to risks and uncertainties, including the failure to finalize a definitive agreement, obtain necessary approvals, or meet other conditions. Neither ABM nor XTC undertakes any obligation to update these statements based on future events or developments, except as required by U.S. federal securities laws.
SOURCE: American Battery Materials, Inc.
View the original press release on ACCESS Newswire
FAQ
What is the maximum ownership stake BLTH can acquire in the Carachi Lithium Project?
Where is the Carachi Lithium Project located and why is it significant?
What conditions must be met for BLTH's Carachi Lithium Project partnership to be finalized?
At what ownership threshold can BLTH enter into a joint venture agreement for the Carachi Project?
