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Lithium Chile Announces Effective Date of Copper/Gold/Silver Property Spin Out
(TheNewswire) CALGARY, ALBERTA - TheNewswire - December 2, 2024 – Lithiu...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Announces Effective Date of Copper/Gold/Silver Property Spin Out\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n CALGARY, ALBERTA\n \n\n -\n \n\n TheNewswire -\n \n\n December 2, 2024 – Lithium Chile Inc.\n \n\n (TSXV:LITH)\n \n\n (\"\n \n\n Lithium Chile\n \n\n \"\nor the \"\n \n\n Company\n \n\n \") is pleased to announce that it\nhas received TSX Venture Exchange approval of the previously announced\n\"spin out\" transaction of its subsidiary, Kairos Gold Inc.\n(\"\n \n\n Kairos Gold\n \n\n \") into a stand-alone company owning the Chilean gold,\ncopper and silver properties previously held within Lithium Chile, to\nbe completed by way of a plan of arrangement involving Lithium Chile\nand Kairos Gold (the \"\n \n\n Kairos\n \n\n Arrangement\n \n\n \"). The Kairos Arrangement\nwill close effective December 4, 2024.\n \n\n\n\n Pursuant to the Kairos Arrangement, shareholders of\nLithium Chile will receive one (1) common share of Kairos Gold (each a\n\"\n \n\n Kairos Gold\nShare\n \n\n \") for each ten (10) common shares of\nLithium Chile (each a \"\n \n\n Lithium Chile Share\n \n\n \") held by them on\nDecember 3, 2024, which is the distribution record date for the Kairos\nArrangement. Following the completion of the Kairos Arrangement,\nKairos Gold will be a reporting issuer pursuant to applicable\nsecurities laws.\n \n\n\n\n Michelle DeCecco, Vice President & COO comments,\n \n\n “The completion of the spin\nout aligns with the Company’s broader objective, which includes\nsegregating assets in order to complete a transaction on Arizaro as\npart of the strategic process initiated on September 21, 2023.\nAdditionally, with gold prices remaining strong and market\nfundamentals supporting sustained demand, this spin out provides our\nshareholders with a meaningful opportunity to participate in a gold\nexploration venture leveraging previously unvalued assets within\nLithium Chile”.\n \n\n\n\n Shareholders whose Lithium Chile Shares are held by a\nbroker or other intermediary (or an agent or nominee thereof) should\ncontact their broker or other intermediary in respect of the receipt\nof their Kairos Gold Shares pursuant to the Kairos Arrangement.\nRegistered holders of Lithium Chile Shares will receive confirmation\nof a book-entry deposit of their Kairos Go...