Business
LITHIUM CHILE Announces Stock Option Grants and Filing of Early Warning Report
(TheNewswire) CALGARY, ALBERTA – TheNewswire - May 18, 2022 ...
About this update from Lithium Chile Inc
[{"type":"text","content":"LITHIUM CHILE Announces Stock Option Grants and Filing of Early Warning Report \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n CALGARY, ALBERTA –\n \n \n TheNewswire\n-\n \n \n May 18, 2022\n \n \n –\n \n \n Lithium Chile Inc.\n \n \n (TSXV:LITH) (OTC:LTMCF)\n \n \n (“\n \n \n Lithium Chile\n \n \n ” or the “\n \n \n Company\n \n \n ”) is pleased to announce that,\nsubject to regulatory approval, it has granted 1,500,000 stock options\nto directors, officers, and consultants of the Company. The stock\noptions are issued with an exercise price of $0.76 and will expire May\n17, 2027.\n \n \n \n \n Early Warning Report\n \n \n \n \n In connection with the closing of a private placement\n(\"\n \n \n Private\nPlacement\n \n \n \") on May 16, 2022, the Company\nissued 29,380,000 common shares (\"\n \n \n Common Shares\n \n \n \")\nat a price of $0.95 per Common Share to Chengze Lithium International\nLimited (\"\n \n \n Chengze\n \n \n \"), a wholly owned subsidiary of\nChengxin Lithium Group, for total consideration of $27,911,000.\n \n \n \n \n Prior to the closing of the Private Placement, Chengze\nowned 8,571,440 Common Shares, representing 5.14% of the issued and\noutstanding Common Shares at that time.\n \n \n \n \n Immediately after the closing of the Private Placement,\nChengze owned 37,951,440 Common Shares, representing 19.35% of the\nissued and outstanding Common Shares.\n \n \n \n \n The Common Shares are being held by Chengze for\ninvestment purposes and Chengze intends to increase or decrease its\nholdings in the Company depending on market conditions and as\ncircumstances warrant.\n \n \n \n \n A report respecting this acquisition has been filed\nwith the applicable securities commissions using the Canadian System\nfor Electronic Document Analysis and Retrieval (\n \n \n SEDAR\n \n \n ) and is\navailable for viewing on the Company's profile at\n \n \n \n \n www.sedar.com\n \n \n \n \n .\n \n \n \n \n About Lithium Chile\n \n \n \n \n Lithium Chile is advancing a lithium property portfolio\nconsisting of 80,938 hectares covering sections of 11 salars and 2\nlaguna complexes in Chile and 23,300 hectares in Argentina.\n \n \n \n \n Lithium Chile also owns 5 properties, totaling 22,429\nhectares that are prospective for gold, silver and copper. Exploration\nefforts are continuing o...