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Early Exercise of Options - $1.2 Million Injected Integra Founder Doubles Shareholding

Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to advise that Integra Capital Founder and the Company’s largest shareholder, Mr Jose Luis Manzano has exercised 100,200,000 LRSOC options to acquire 100,200,000 fully paid ordinary shares for a consideration of $1,202,400.

The options have been exercised several months ahead of their maturity in December 2022, demonstrating the strong support from Mr Manzano for our very significant recent discovery of lithium spodumene at the Salinas Lithium Project in the Minas Gerais mining province of Brazil.

The Company notes the funds from the exercise of these options will not be used to pay down the Lind facility per the Option Funding Agreement announced to the market on 28 February 2022, but will be applied to expanding our work program at the Salinas Lithium Project.

Mr Manzano now has a 13.4% interest in Latin shares and remains our largest and supportive shareholder

The option exercises above bring the total LRSOC options exercised over a 12-month period from 22 March 2021 to 25 March 2022 to a total of 223,000,876 bringing in funds of $2.676 million to the Company.

The Company has a long term and positive relationship with Integra Capital, our joint venture partners at our Catamarca Lithium Project in Argentina. We look forward to continuing to build our relationship with Integra and its President, Mr Jose Luis Manzano.

About Integra Capital

Integra is an investment company that has a diversified portfolio covering more than ten countries. Founded in 1995, Integra has developed projects and ventures with private institutions and investors valued at more than $16.5 billion.

Integra is one of Argentina’s largest lithium explorers and holds over 400,000 hectares of lithium brines projects in Jujuy and Catamarca provinces. The firm has developed a portfolio of assets in oil exploration and production, natural gas distribution, electricity generation and distribution. Integra also has investments in uranium and copper, and provides services such as mergers and acquisitions, financial structuring, IPOs, due diligence procedures, debt and company restructuring. Integra was attracted to Latin’s highly prospective and large-scale lithium tenement portfolio in Argentina, as well the Company’s renowned 10-year operational experience in Latin America.

Click here for the full ASX Release

This article includes content from Latin Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Forward-Looking Statements

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