Lithium Chile Provides AGM Update and Announces Special Shareholders' Meeting
CALGARY, June 17, 2024 - Lithium Chile Inc. ("Lithium Chile" or the "Company") (TSX Venture Exchange: LITH; OTC-QB: LTMCF) reminds its shareholders of its upcoming annual general meeting (the "AGM") to be held on July 10, 2024, at 11:00 AM (MT). While AGM materials have been mailed to beneficial shareholders, all AGM material will also be available under the Company's profile on SEDAR+ at www.sedarplus.ca or the Company's website at https://lithiumchile.ca/Investor/AGM-2024 on June 19th, 2024. Following the formal portion of the AGM, management will provide an update on the transfer of its Chilean lithium properties to Lithium Chile 2.0 Inc. and its Chilean copper/gold/silver properties to Kairos Gold Corp. These transfers are designed to enable Lithium Chile to pursue a transaction on its Argentinian assets, in alignment with the ongoing strategic process led by PI Financial Corp. (see Lithium Chile news releases dated February 14, 2024, and April 18, 2024).
Lithium Chile has been informed that the Prefeasibility Study (the "PFS") will be ready for initial review before the end of June 2024. While the results have not yet been finalized, there may be significant revisions to resource volumes, resource classifications, and project valuation as a result of the PFS.
Management of Lithium Chile is committed to ensuring that shareholders have all pertinent information before voting on the spin-out resolutions. Therefore, a Special Meeting has been scheduled for August 28, 2024 (the "Special Meeting") to allow shareholders to vote on the resolution approving the distribution of shares of Lithium Chile 2.0 Inc. and Kairos Gold Corp. to Lithium Chile's shareholders.
Details regarding the Special Meeting, including how to access meeting materials and participate in the voting process, will be provided to shareholders at a later date.
ABOUT LITHIUM CHILE:
Lithium Chile is an exploration and lithium resource company with a lithium property portfolio consisting of 111,978 hectares in Chile and 29,245 hectares in Argentina. The Company has filed a NI 43-101 Report and Preliminary Economic Assessment on its Arizaro project in Argentina and expects to finalize the next step - a prefeasibility study - before the end of June.
Lithium Chile also owns 5 properties in Chile totaling 22,629 hectares that are prospective for gold, silver and copper.
On September 21, 2023, Lithium Chile announced the hiring of PI Financial Corp. as its financial advisor to seek strategic alternatives. That process is underway as the Company continues to enhance the underlying value of its assets including completion of the PFS and the related resource volumes, resource classifications and valuation parameters associated therewith.
Lithium Chile's common shares are listed on the TSX-V under the symbol "LITH" and on the OTC-QB under the symbol "LTMCF".
To find out more about Lithium Chile, please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or Michelle DeCecco, Vice President and COO via email: michelle@lithiumchile.ca or (587) 393-1990.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENTS:
This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"), including without limitation the successful completion of the strategic process and certain transactions associated therewith.. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "expected", "anticipated", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Such forward-looking statements are based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the general stability of the economic and political environment in which the Company operates and the timely receipt of required regulatory approvals if required. You are cautioned that the foregoing list of material factors and assumptions is not exhaustive. Although Lithium Chile believes that the assumptions and factors on which such forward-looking statements are based upon reasonable assumptions, undue reliance should not be placed on the forward-looking statements because Lithium Chile can give no assurance that they will prove to be correct or that any of the events anticipated by such forward-looking statements will transpire or occur, or if any of them do, what benefits Lithium Chile will derive therefrom. Lithium Chile does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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