Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement

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TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQX Venture Market: LILIF

VANCOUVER, BC, Nov. 18, 2024 /CNW/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF), ("Argentina Lithium" or the "Company") announces that further to the Company's news release dated October 29, 2024 and amended on November 8, 2024 and despite significant interest from investors including existing shareholders, it will not be proceeding with the non-brokered private placement offering using the Listed Issuer Financing Exemption for the sale of: (i) a minimum of 8,000,000 units of the Company (each, a "Unit") at a price of $0.15 per Unit (the "Offering Price") for aggregate gross proceeds of $1,200,000; and (ii) a maximum of 23,333,334 Units at the Offering Price for aggregate gross proceeds of $3,500,000.10 (the "Offering").

The Company is considering alternate sources in funding that do not result in the issuance of shares nor any dilution to our current shareholders.

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 2023 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 covering over 70,000 hectares in the Lithium Triangle of Argentina. 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"

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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.

SOURCE Argentina Lithium & Energy Corp.

For further information, please contact: Corporate Communications, Tel: [phone], Toll-Free: 1-800-901-0058, Email: [email protected]