Mr. Steven Cochrane reports
LITHIUM CHILE SPIN OUT VOTE SCHEDULED FOR FRIDAY, APRIL 27, 2018
Lithium Chile Inc. has reminded shareholders that the company's shareholder meeting to approve the plan of arrangement whereby Lithium Chile will dividend the shares of Kairos Metals Corp. to its shareholders, will take place on Friday, April 27, 2018. All persons holding shares of Lithium Chile on the dividend record date will be entitled to the dividend of the Kairos Metals shares.
The proposed plan, which remains subject to shareholder approval at the meeting and certain regulatory approvals, will establish a separate company, Kairos Metals, which will exploit Lithium Chile's copper/gold/silver properties. Lithium Chile has reserved a court date of May 7, 2018, to seek final court approval for the plan. The dividend record date is expected to be three to five business days after the final court order date.
Steve Cochrane, president and chief executive officer of Lithium Chile, commented: "This transaction will establish a separate company which will focus exclusively on unlocking the value in our exciting, wholly owned copper/gold/silver property portfolio. All Lithium Chile shareholders on the dividend record date will receive a share dividend in the new company, Kairos Metals Corp."
About Lithium Chile Inc.
Lithium Chile is advancing a lithium property portfolio consisting of 148,500 hectares covering sections of 13 salars and one laguna complex in Chile. The properties include 66 square kilometres on the Salar de Atacama, which hosts the world's highest concentration lithium brine production and is currently the source of approximately 30 per cent of the world's lithium production. Lithium Chile also owns a significant copper/gold/silver property portfolio consisting of 28,184 hectares over six different properties also located in Chile.
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