Argentina Lithium Announces Non-Brokered Private Placement
VANCOUVER, BC, Nov. 3, 2022 /CNW/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") is pleased to announce a non-brokered private placement financing of up to 24,000,000 units at a price of $0.25 per unit (the "Units") for gross proceeds of $6,000,000.
Each Unit will consist of one common share and one transferrable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.40 per share for two (2) years from the date of issue.
This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. Directors, officers and employees of the Company may participate in a portion of the financing. A commission may be paid on a portion of the financing. The proceeds of the financing will be used for general working capital and exploration on its properties in Argentina.
Argentina Lithium & Energy Corp is focused on advancing high quality lithium projects in Argentina toward production in order to meet the growing global demand from the battery sector. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. The Grosso 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 "Lithium Triangle".
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.
The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
SOURCE Argentina Lithium & Energy Corp.
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email: [email protected]
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