Argentina Lithium Closes US$90 Million Investment by Stellantis in ARS$ Equivalent

Argentina Lithium Closes US$90 Million Investment by Stellantis in ARS$ Equivalent

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQB Venture Market (OTC): PNXLF

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") is pleased to announce closing of the US$90 million 1 investment in AR$ equivalent in Argentina Litio y Energia S.A. (" ALE ") by Stellantis (defined below) (the "Transaction"), as previously announced in the Company's news release dated September 27, 2023 . Stellantis is one of the world's leading automakers and mobility providers with iconic brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep ® Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall Free2Move and Leasys.

Pursuant to the Transaction, Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V. (" Stellantis "), has invested the ARS$ equivalent of US$90 million 1 in Argentina to acquire shares of ALE (the " ALE Shares "). Further, the Company has granted Stellantis the right (the " Exchange Right ") to exchange all of the ALE Shares for up to 19.9% of the outstanding common shares of Argentina Lithium (on an undiluted basis) in the future, subject to certain conditions set out in an exchange agreement. In connection with the Transaction, the parties have also entered into a lithium offtake agreement, a shareholders' agreement with respect to ALE and, upon exercise of the Exchange Right, Argentina Lithium and Stellantis will enter into an investor rights agreement. The proceeds of the Transaction will be used to advance development of the Company's lithium projects held through its wholly owned subsidiary in Argentina , and for general corporate purposes.

As a result of the Transaction, Stellantis owns 19.9% of the issued and outstanding ALE Shares and Argentina Lithium owns 80.1%.

About Stellantis

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world's leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today's customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep ® , Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall , Free2Move and Leasys. Powered by their diversity, Stellantis leads the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com .

About Argentina Lithium

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward production in order to meet the growing global demand from the battery sector. The management 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". 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"

_______________________________

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.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, the Transaction; the use of proceeds; the strengths, characteristics and potential of the Transaction; Argentina Lithium's plans for, and the future prospects of, its mineral properties; the exercise of the Exchange Right by Stellantis; entering into the Investor Rights Agreement; production of lithium products and the successful start of commercial production at Argentina Lithium's mineral properties are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: failure to receive TSXV approval; failure to satisfy the condition precedents, the potential that the Transaction could be terminated under certain circumstances; the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.



1 As per the official exchange rate of Argentina Central Bank

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/argentina-lithium-closes-us90-million-investment-by-stellantis-in-ars-equivalent-301948780.html

SOURCE Argentina Lithium & Energy Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2023/05/c8393.html

News Provided by Canada Newswire via QuoteMedia

LIT:CA
The Conversation (0)
Argentina Lithium & Energy (TSXV:LIT)

Argentina Lithium & Energy

Discovery in the Lithium Triangle and Strategic Partnership with Global Automaker

Argentina Lithium and Energy Exhibiting at Booth 2924, PDAC 2025 Convention in Toronto, March 2-5

Argentina Lithium and Energy Exhibiting at Booth 2924, PDAC 2025 Convention in Toronto, March 2-5

Visit Argentina Lithium and Energy (TSXV: LIT) (OTCQB: LILIF) at Booth #2924 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025. About Argentina Lithium and EnergyArgentina... Keep Reading...
Argentina Lithium Announces 225-metre Lithium Brine Interval at the 14th Exploration Well on the Rincon West Project

Argentina Lithium Announces 225-metre Lithium Brine Interval at the 14th Exploration Well on the Rincon West Project

TSX Venture Exchange (TSX-V): LIT Frankfurt Stock Exchange (FSE): OAY3 OTCQB Venture Market: LILIF Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQB: LILIF), ("Argentina Lithium" or the "Company") reports positive results from the fourteenth exploration well at its Rincon West... Keep Reading...
Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement

Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/ TSX Venture Exchange (TSX-V): LIT Frankfurt Stock Exchange (FSE): OAY3 OTCQX Venture Market: LILIF Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF) ("Argentina Lithium" or the "Company") announces... Keep Reading...
Argentina Lithium Announces Amendment to the Terms of the Non-Brokered Private Placement Using The Listed Issuer Financing Exemption

Argentina Lithium Announces Amendment to the Terms of the Non-Brokered Private Placement Using The Listed Issuer Financing Exemption

TSX Venture Exchange (TSX-V): LIT Frankfurt Stock Exchange (FSE): OAY3 /NOT FOR DISTRIBUTION TO UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/ Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) ("Argentina Lithium" or the "Company") announces it is amending the terms of the Company's... Keep Reading...
Argentina Lithium Applies to Extend Warrants November 06, 2024

Argentina Lithium Applies to Extend Warrants November 06, 2024

TSX Venture Exchange (TSX-V): LIT Frankfurt Stock Exchange (FRA): OAY3 OTCQX Venture Market (OTC): PNXLF Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF) ("Argentina Lithium" or the "Company") announces that the Company has made an application to the TSX Venture Exchange... Keep Reading...
Trading Halt

Trading Halt

Green Technology Metals (GT1:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
Western Uranium & Vanadium Announces Brokered LIFE Financing of $5 Million

Western Uranium & Vanadium Announces Brokered LIFE Financing of $5 Million

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES Western Uranium & Vanadium Corp. (CSE: WUC,OTC:WSTRF) (" Western " or the " Company ") is pleased to announce that it has entered into an engagement agreement with A.G.P. Canada... Keep Reading...
Altech - Spherical Coated Silicon Achieves 88.5% Retention

Altech - Spherical Coated Silicon Achieves 88.5% Retention

Altech Batteries (ATC:AU) has announced Altech - Spherical Coated Silicon Achieves 88.5% RetentionDownload the PDF here. Keep Reading...
Altech Batteries Ltd  Spherical Coated Silicon Achieves 88.5% Retention

Altech Batteries Ltd Spherical Coated Silicon Achieves 88.5% Retention

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce a major advancement in its Silumina Anodes(TM) Project, achieving the strongest battery cycling performance recorded to date for its proprietary alumina-coated... Keep Reading...
E-Power Resources Inc. Announces Adjournment of Annual Meeting Due to Lack of Quorum

E-Power Resources Inc. Announces Adjournment of Annual Meeting Due to Lack of Quorum

Annual General Meeting of Shareholders of E-Power to be reconvened on November 6 at 2:00 PM (Eastern Time); E-Power Shareholders now have until 2:00 PM (Eastern Time) on November 4 to voteE-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") reports that the Annual Meeting of... Keep Reading...
Altech Launches 15kWh UPS Battery for European Gas Pipelines

Altech Launches 15kWh UPS Battery for European Gas Pipelines

Altech Batteries (ATC:AU) has announced Altech Launches 15kWh UPS Battery for European Gas PipelinesDownload the PDF here. Keep Reading...

Latest Press Releases

Related News