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Lithium Chile Provides Update on Sale of Arizaro Project
(TheNewswire) TSX Venture Exchange: LITH OTC-QB: LTMCF CALGARY,...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Provides Update on Sale of Arizaro Project\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 TSX Venture Exchange: LITH\n \n\n\n\n OTC-QB: LTMCF\n \n\n\n\n\n\n CALGARY, ALBERTA –\n \n\n TheNewswire -\n \n\n April 9, 2025\n \n\n –\n \n\n Lithium Chile Inc\n \n\n . (“\n \n\n Lithium\nChile\n \n\n ” or the “\n \n\n Company\n \n\n ”), with\nreference to its prior new releases dated December 19, 2024, January\n15, 2025, and February 20, 2025, is pleased to provide an update on\nthe sale of its flagship\n \n\n\n\n Arizaro project\n \n\n , Argentina.\n \n\n\n\n The due diligence was completed at the end of February\nwith the first draft of the definitive agreement (the “Definitive\nAgreement”) presented to Lithium Chile on March 3\n \n\n rd\n \n\n , 2025. Both\nparties have worked collaboratively to address questions arising from\nthe due diligence process, revising the Definitive Agreement\naccordingly.  The meetings to date have been proactive and\ncollaborative with both parties anxious to have the Definitive\nAgreement signed as soon as practicable.\n \n\n\n\n The Company recently held a highly productive in-person\nmeeting with key representatives including the Buyers’ senior\nexecutives and legal advisors. These meetings have significantly\naccelerated progress toward finalizing the Definitive Agreement, with\nboth parties reaffirming their commitment to complete the\ntransaction.\n \n\n\n\n The Buyer has requested to finalize and execute the\nDefinitive Agreement, following their upcoming visit to Salta,\nArgentina. Execution of the Definitive Agreement will trigger key\nmilestones, including:\n \n\n\n\n\n\n A proposed US Dollar bank deposit from the Buyer to the\naccount of the Company.\n \n\n\n\n\n\n Commencement of local regulatory approval\nprocesses.\n \n\n\n\n\n\n The Buyer’s planned visit to Salta will be led by a\nsenior management delegation including members of the Board of\nDirectors and legal counsel, representatives from the Company’s\naccountants and investment banking advisors, and local regulatory\nofficials.  The visit will include meetings with the local Argentine\nprovincial authorities such as REMSa and the Ministry of Mining,\nunderscoring the Buyer’s long-term commitme...