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Argentina Lithium Closes US$90 Million Investment by Stellantis in ARS$ Equivalent
Argentina Lithium Closes US$90 Million Investment by Stellantis in ARS$ Equivalent Cana...
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":"\n \n \n \n Argentina Lithium Closes US$90 Million Investment by Stellantis in ARS$ Equivalent\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSX Venture Exchange (TSX-V):\n \n LIT\n \n \n Frankfurt Stock Exchange (FSE):\n \n OAY3\n \n \n OTCQB Venture Market (OTC):\n \n PNXLF\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Oct. 5, 2023\n \n \n /CNW/ -\n \n Argentina Lithium & Energy Corp.\n \n (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF)\n \n , (\"Argentina Lithium\" or the \"Company\")\n \n is pleased to announce closing of the\n \n US$90 million\n \n \n 1\n \n investment in AR$ equivalent in\n \n Argentina\n \n Litio y Energia S.A. (\"\n \n ALE\n \n \") by Stellantis (defined below) (the \"Transaction\"), as previously announced in the Company's news release dated\n \n September 27, 2023\n \n . Stellantis is one of the world's leading automakers and mobility providers with iconic brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep\n \n ®\n \n , Lancia, Maserati, Opel, Peugeot, RAM,\n \n Vauxhall\n \n , Free2Move and Leasys.\n \n \n \n \n \n \n \n \n \n Pursuant to the Transaction, Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V. (\"\n \n Stellantis\n \n \"), has invested the ARS$ equivalent of\n \n US$90 million\n \n \n 1\n \n in\n \n Argentina\n \n to acquire shares of ALE (the \"\n \n ALE Shares\n \n \"). Further, the Company has granted Stellantis the right (the \"\n \n Exchange Right\n \n \") to exchange all of the ALE Shares for up to 19.9% of the outstanding common shares of Argentina Lithium (on an undiluted basis) in the future, subject to certain conditions set out in an exchang...