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Argentina Lithium Increases Non-Brokered Private Placement
Argentina Lithium Increases Non-Brokered Private Placement Canada NewsWire ...
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":"\n \n \n \n Argentina Lithium Increases 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 Nov. 16, 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 announces that due to high investor demand, the Company has increased the private placement amount announced on\n \n November 3, 2022\n \n , from\n \n $6,000,000\n \n to\n \n $9,000,000\n \n consisting of 36,000,000 units (the \"Units\") at\n \n $0.25\n \n per Unit.\n \n \n \n \n \n \n \n \n \n Each Unit will consist 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 $0.40\n \n per share for two (2) years from the date of issue.\n \n \n Certain insiders of the Company participated in the Private Placement. Such participation represents a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"\n \n MI 61-101\n \n \"), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market capitalization.\n \n \n This financing is subject to TSX Venture Exchange acceptance and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. A commission may be paid on a portion of the financing. The proceeds of the financing will be used in part to complete the acquisition. The balance will be used for general working capital and exploration on its properties in\n \n Argentina\n \n .\n \n \n \n About Argentina...