Argentina Lithium Signs Definitive Agreement to Acquire Rincon West and Pocitos Properties in Salta Province

Rhea-AI Summary

On October 14, 2021, Argentina Lithium & Energy Corp. (OTC: PNXLF) announced the signing of a Definitive Agreement to advance their acquisition of the Rincon West and Pocitos lithium properties in Salta Province. This agreement, initially disclosed on September 28, 2021, allows Argentina Lithium to initiate an expedited exploration and drilling program, tapping into the significant lithium potential within these properties. The transaction is pending approval from the TSX Venture Exchange.

Positive

• Signed a Definitive Agreement to acquire Rincon West and Pocitos properties.
• Plans to begin expedited exploration and drilling programs.
• Properties hold exceptional lithium discovery potential.

Negative

• Agreement is subject to TSX Venture Exchange approval.

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

VANCOUVER, BC, Oct. 14, 2021 /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 release of September 28, 2021, the Company has signed a 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.

"With the agreement finalized, we can begin planning for an expedited exploration and drilling program. These properties hold exceptional lithium discovery potential," stated Nikolaos Cacos, President and C.E.O.

The Agreement is subject to TSX Venture Exchange approval.

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 agreement did Argentina Lithium sign on October 14, 2021?

Argentina Lithium signed a Definitive Agreement to acquire Rincon West and Pocitos properties.

What is the strategic importance of the properties acquired by Argentina Lithium?

The properties are located in Salta Province and are expected to tap into significant lithium potential, crucial for the growing battery sector.

What are the next steps for Argentina Lithium after signing the Definitive Agreement?

The company plans to initiate expedited exploration and drilling programs for the newly acquired properties.

Is the agreement for the acquisition of Rincon West and Pocitos properties finalized?

The agreement is signed but subject to approval from the TSX Venture Exchange.

What is the expected impact of this acquisition on Argentina Lithium's operations?

The acquisition aims to enhance Argentina Lithium's lithium resource base and increase production potential.