Argentina Lithium Applies to Extend Warrants
VANCOUVER, British Columbia, Sept. 10, 2018 (GLOBE NEWSWIRE) -- Argentina Lithium & Energy Corp. (TSX-V: LIT, FSE: OAY2 (WKN: A0RK7E), OTC: PNXLF), “Argentina Lithium” or the “Company”) announces that the Company has made an application to the TSX Venture Exchange to extend the term of the outstanding warrants as follows:
- 9,117,000 warrants that are set to expire on October 26, 2018 to be extended to October 26, 2019. 10,000,000 warrants were originally issued on October 26, 2016 as part of the units issued under a private placement completed by the Company in October 2016. Subsequent to the issuance, 883,000 warrants were exercised. The warrants are also subject to an accelerator (see text below).
The exercise price of the warrants will remain at $0.30. Each whole warrant, when exercised, will be exchangeable for one common share of the Company.
The Warrant exercise period may be accelerated if the volume weighted average price (“VWAP”) for the Company’s common shares on the Exchange is $0.75 or greater for a period of 10 consecutive trading days, then the Company may deliver a notice (the "Notice") to the Warrant holder notifying such Warrant holder that the Warrants must be exercised within 20 days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m. (Vancouver time) on the 21st day after the date of delivery of the Notice.
The amendment is subject to the approval of the TSX Venture Exchange (“TSXV”).
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina, and advancing them towards 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 world renowned “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, President, CEO and Director
For further information please contact:
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. 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. 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.
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