Argentina Lithium Receives TSXV Approval to Acquire Rincon West and Pocitos Properties in Salta Province

Rhea-AI Summary

Argentina Lithium & Energy Corp. has received TSX Venture Exchange approval for its Definitive Agreement regarding the acquisition of lithium properties in Salta Province. The Agreement maintains prior terms, with future share issuances priced at either the volume-weighted average price or CDN$0.218 per share. Management expresses confidence in the exploration and drilling program, emphasizing the properties' lithium discovery potential, driven by increasing global demand from the battery sector.

Positive

• TSX-V approval received, enabling exploration and drilling program.
• Properties are expected to have significant lithium discovery potential.
• Focused on high-quality lithium projects in Argentina to meet global battery demand.

Negative

• None.

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

VANCOUVER, BC, March 16, 2022 /PRNewswire/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") is pleased to announce that further to its news releases of September 28, 2021 and October 14, 2021, the Company has received TSX Venture Exchange ("TSXV") approval of the Definitive Agreement (the "Agreement") with the vendors. The terms of the Agreement remain the same as were disclosed in the September 28, 2021 news release. For added clarity, any future share issuances will be issued at a deemed price per share equal to the greater of a volume-weighted average price calculation and CDN$0.218 per shares.

"Now that we've received TSXV approval, we can begin our exploration and drilling program. These properties hold exceptional lithium discovery potential," stated Nikolaos Cacos, President and C.E.O.

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 management group has a long history of success in the resource sector of Argentina, and has assembled a first rate team of experts to acquire and advance the best 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 recent approval did Argentina Lithium receive?

Argentina Lithium received TSX Venture Exchange approval for its Definitive Agreement to acquire lithium properties in Salta Province.

What is the transaction value for future share issuances?

Future share issuances will be priced at either the volume-weighted average price or CDN$0.218 per share.

What is the focus of Argentina Lithium's operations?

Argentina Lithium focuses on acquiring and advancing high-quality lithium projects in Argentina to meet rising global demand.

What are the implications of the TSX-V approval for Argentina Lithium?

The TSX-V approval allows Argentina Lithium to commence its exploration and drilling program, highlighting potential growth in lithium discovery.

When was the approval announcement made?

The approval was announced on March 16, 2022.