Argentina Lithium Engages Red Cloud Financial Services

Rhea-AI Summary

Argentina Lithium engages Red Cloud Financial Services

Positive

• Argentina Lithium enters into a services agreement with Red Cloud Financial Services to provide promotional services
• The agreement is for an initial term of twelve months and renewable on a month-to-month basis
• The Company will pay RCFS an aggregate fee of $122,000 for the 12 month term

Negative

• No performance factors contained in the agreement
• RCFS will not receive common shares or options as compensation

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQB Venture Market (OTC): PNXLF

VANCOUVER, BC, Oct. 17, 2023 /PRNewswire/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") is pleased to announce that it has entered into a services agreement (the "Agreement") with Red Cloud Financial Services Inc. ("RCFS") pursuant to which, among other things, RSFC has agreed to provide certain promotional services to the Company in accordance with Policy 3.4 of the TSX Venture Exchange (the "Exchange").

RCFS' engagement is for an initial term of twelve months (the "Initial Term"). The Agreement shall be renewable on a month-to-month basis following the Initial Term (each a "Renewal Term") unless the Company or RCFS provides written notice of termination to the other of them at least 30 days prior to the end of the Initial Term or a Renewal Term, as applicable. For the Initial Term the Company shall pay RCFS an aggregate fee of $122,000 for the 12 month term.

RCFS provides promotional services on behalf of the Company across the country. Through RCFS' engagement, the Company hopes to promote awareness of the Company and its activities.

There are no performance factors contained in the Agreement and RCFS will not receive common shares or options as compensation. Further, RCFS and the Company are unrelated and unaffiliated entities and, at the time of the Agreement, neither RCFS nor any of its principals have an interest, directly or indirectly, in the securities of the Company.

About Argentina Lithium

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them towards production in order to meet the growing global demand from the battery sector. The Company's recent strategic investment by Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the world's leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects. Management has a long history of success in the resource sector of Argentina and has assembled some of the most prospective lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"
_______________________________
Nikolaos Cacos, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Argentina Lithium & Energy Corp.

FAQ

What is the agreement between Argentina Lithium and Red Cloud Financial Services?

The agreement is for Red Cloud Financial Services to provide promotional services to Argentina Lithium.

What is the duration of the agreement?

The initial term of the agreement is twelve months, and it is renewable on a month-to-month basis.

How much will Argentina Lithium pay RCFS for the agreement?

Argentina Lithium will pay RCFS an aggregate fee of $122,000 for the 12 month term.

Will RCFS receive common shares or options as compensation?

No, RCFS will not receive common shares or options as compensation.