Argentina Lithium Announces Amendment to the Terms of the Non-Brokered Private Placement Using the Listed Issuer Financing Exemption
Argentina Lithium Corp. (the Company or Argentina Lithium) announces that, further to its new release dated June 24, 2021, it has reached agreements with certain arms-length subscribers to increase the size of the previously announced private placement offering of Argentina Lithium to $3.5 million.
The Offering will consist of units (“Units”) priced at $0.05 per Unit, with each Unit consisting of one common share and one common share purchase warrant (“Warrant”). Each full Warrant will entitle the holder to purchase an additional common share of the Company at a price of $0.08 per share for a period of two years from the date of closing of the Offering.
The net proceeds from the Offering will be used for exploration and development of the Company’s projects in Argentina, working capital, and general corporate purposes. All securities issued in connection with the Offering will be subject to a hold period expiring four months and one day from the date of closing.
This news comes after recent developments in both the lithium market and the Company’s projects in Argentina. The growing demand for lithium, especially in the electric vehicle sector, has led to increased interest in lithium exploration and production companies. Argentina, known for having one of the largest lithium reserves globally, is a strategic location for lithium projects. Argentina Lithium’s projects are well-positioned to benefit from these market dynamics and the potential for future growth.
The amendment to the terms of the Offering reflects the Company’s commitment to maximizing the value for its shareholders. By increasing the size of the Offering, Argentina Lithium aims to strengthen its financial position and accelerate the development of its projects. The additional proceeds will allow the Company to advance its exploration activities, conduct further studies, and potentially expand its resource base.
Argentina Lithium is focused on creating long-term value for its shareholders through responsible exploration and development practices. The Company’s projects are located in an area with favorable geological characteristics and infrastructure, providing a solid foundation for future growth. With the increased size of the Offering and the potential for growth in the lithium market, Argentina Lithium is well-positioned to capitalize on the opportunities in the sector and deliver value to its stakeholders.
In conclusion, the amendment to the terms of the Offering by Argentina Lithium represents a strategic move to enhance its financial position and accelerate the development of its projects. With the growing demand for lithium and the Company’s strategic location in Argentina, Argentina Lithium is well-positioned to capitalize on the opportunities in the market. By increasing the size of the Offering, the Company aims to create long-term value for its shareholders and advance its exploration and development activities.