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Argentina Lithium Closes 1st Tranche of the Non-Brokered Private Placement
Argentina Lithium Closes 1st Tranche of the Non-Brokered Private Placement Cana...
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":"\n \n \n \n Argentina Lithium Closes 1st Tranche of the Non-Brokered Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 11, 2022\n \n \n /CNW/ -\n \n Argentina Lithium & Energy Corp.\n \n (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF)\n \n , (\"Argentina Lithium\"\n \n or the\n \n \"Company\")\n \n is pleased to announce it has closed the 1\n \n st\n \n Tranche of the non-brokered private placement financing announced on\n \n July 21, 2022\n \n , and increased on\n \n August 9\n \n and\n \n August 11, 2022\n \n through the issuance of 6,215,000 units (\"\n \n Units\n \n \") at a subscription price of\n \n $0.20\n \n per Unit for aggregate gross proceeds to the Company of\n \n $1,243,000\n \n .\n \n \n \n \n \n \n \n \n \n Each Unit consists of one common share and one transferrable common share purchase warrant (a \"\n \n Warrant\n \n \"). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at\n \n $0.38\n \n per share for two years from the date of issue, expiring on\n \n August 11, 2024\n \n .\n \n \n The proceeds of the financing will be used in part to complete the acquisition of the Rinconcita II mining concession area located on the Salar de Rincon in\n \n Salta Province\n \n ,\n \n Argentina\n \n , from provincially-owned company Recursos Energéticos y Mineros Salta S.A. The balance of the proceeds will be used for general working capital and exploration on its properties in\n \n Argentina\n \n .\n \n \n Finder's fees of\n \n $36,260\n \n are payable in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 181,300 non-transferable finder's warrants are issuable (the \"Finder's Warrants\").  Each Finder's Warrant entitling a finder to purchase one common share at a price of\n \n $0.38\n \n per share for two years from the date of issue, expiring on\n \...