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Argentina Lithium Announces Closing of C$4.4 Million Brokered LIFE Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 10, 2026) - Argentina Lithium & Energy ...
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":"Argentina Lithium Announces Closing of C$4.4 Million Brokered LIFE Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 10, 2026) - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQB: LILIF) (\"Argentina Lithium\" or the \"Company\") is pleased to announce the closing of its previously announced \"best efforts\" private placement (the \"Offering\") for aggregate gross proceeds of C$4,379,200.08, which includes the partial exercise of the agent's option. Pursuant to the Offering, the Company sold 36,493,334 units of the Company (the \"Units\") at a price of C$0.12 per Unit (the \"Offering Price\"). Red Cloud Securities Inc. (\"Red Cloud\") acted as sole agent and bookrunner under the Offering. Each Unit consists of one common share of the Company (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one Common Share at a price of C$0.16 any time after May 9, 2026 to March 10, 2029.The Company intends to use the net proceeds from the Offering for the exploration and advancement of the Company's Rincon West lithium project in Argentina and for working capital and general corporate purposes, as is more fully described in the Amended Offering Document (as herein defined).In accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\"). The securities issuable from the Units issued to Canadian purchasers are immediately freely tradeable in accordance with applicable Canadian securities legislation, subject to any restriction on transfer imposed by the policies of the TSX Venture Exchange (the \"TSXV\"). As consideration for their services, Red Cloud received a cash fee of C$289,044 and 2,408,700 non-transferable common share purchase warrants (the \"Broker Warrants\"). Each Broker Warrant is exercisable into one Common Share at the Offering Price at any time on or before March 10, 2029. The Broker Warrants and any Common Shares issuable upon any future exercise of the Broker Warrants will be subject to a hold period...