Mr. Steven Cochrane reports
LITHIUM CHILE ANNOUNCES STOCK OPTION GRANTS AND FILING OF EARLY WARNING REPORT
Lithium Chile Inc., subject to regulatory approval, has granted 1.5 million stock options to directors, officers and consultants of the company. The stock options are issued with an exercise price of 76 cents and will expire May 17, 2027.
Early warning report
In connection with the closing of a private placement on May 16, 2022, the company issued 29.38 million common shares at a price of 95 cents per common share to Chengze Lithium International Ltd., a wholly owned subsidiary of Chengxin Lithium Group, for total consideration of $27,911,000.
Prior to the closing of the private placement, Chengze owned 8,571,440 common shares, representing 5.14 per cent of the issued and outstanding common shares at that time.
Immediately after the closing of the private placement, Chengze owned 37,951,440 common shares, representing 19.35 per cent of the issued and outstanding common shares.
The common shares are being held by Chengze for investment purposes, and Chengze intends to increase or decrease its holdings in the company depending on market conditions and as circumstances warrant.
A report respecting this acquisition has been filed with the applicable securities commissions using SEDAR and is available for viewing on the company's profile on SEDAR.
About Lithium Chile Inc.
Lithium Chile is advancing a lithium property portfolio consisting of 80,938 hectares covering sections of 11 salars and two laguna complexes in Chile and 23,300 hectares in Argentina.
Lithium Chile also owns five properties totalling 22,429 hectares that are prospective for gold, silver and copper. Exploration efforts are continuing on Lithium Chile's Carmona gold/silver/copper property, which lies in the heart of the Chilean megaporphyry gold/silver/copper belt.
Lithium Chile's common shares are listed on the TSX Venture Exchange under the symbol LITH
and on the OTC-BB under the symbol LTMCF.
We seek Safe Harbor.
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