Business
Lithium Chile Provides Update on Proposed "Spin-Out Transactions" Involving Two Newly Formed Subsidiaries: Kairos Gold Inc. and Lithium Chile 2.0 Inc.
(TheNewswire) CALGARY, ALBERTA – TheNewswire - August 7, 2024 &#...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Provides Update on Proposed \"Spin-Out Transactions\" Involving Two Newly Formed Subsidiaries: Kairos Gold Inc. and Lithium Chile 2.0 Inc.\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\n\n\n\n CALGARY, ALBERTA –\n \n\n TheNewswire -\n \n\n August 7, 2024\n \n\n –\nLithium Chile Inc. (“\n \n\n Lithium\nChile\n \n\n ” or the “\n \n\n Company\n \n\n ”)\n \n\n (\n \n\n TSX Venture Exchange: LITH / OTC-QB:\nLTMCF\n \n\n )\n \n\n is pleased to provide an update on the proposed “spin-out\ntransactions” involving two newly formed subsidiaries: Lithium Chile\n2.0 Inc. and Kairos Gold Inc.  It is intended that Lithium Chile will\ncontinue to hold its advanced Salar de Arizaro lithium project while\nthe remaining lithium salar properties will be transferred to Lithium\nChile 2.0 Inc. and the properties that are prospective for gold,\ncopper and silver will be transferred to Kairos Gold Inc.  The shares\nof both Lithium Chile 2.0 Inc. and Kairos Gold Inc. are intended to be\n“spun-out” to the Company’s shareholders after a special meeting\nof shareholders to approve the proposed transaction.  Materials\nenabling shareholders to make an informed decision on the merits of\nthe “spin-out transactions” have been filed with the TSX Venture\nExchange (the “\n \n\n Exchange\n \n\n ”) with first comments having been\nreceived on July 31, 2024.\n \n\n\n\n The time required to complete NI 43-101 compliant\ntechnical reports together with independent valuations of the\nCompany’s properties - amongst numerous other documents and the need\nto obtain Exchange approval - has required that the Company delay the\nspecial meeting of shareholders until October 7, 2024.\n \n\n\n\n Lithium Chile has applied to list the common shares of\nKairos Gold Inc. on the Exchange with that “spin-out transaction”\noccurring immediately after the October 7, 2024 special shareholder\nmeeting.\n \n\n\n\n Completion of the transaction involving the\n“spin-out” of Lithium Chile 2.0 Inc. remains subject to the\nCompany having successfully concluded the strategic process involving\nits Arizaro property.  Negotiations in that respect are continuing\nand have been aided by the compl...