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Lithium Chile Welcomes Significant New Shareholder Following the Government Ordered Divestiture of Chengze's Ownership
(TheNewswire) CALGARY, ALBERTA – TheNewswire - February 16, 2023 &#x...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Welcomes Significant New Shareholder Following the Government Ordered Divestiture of Chengze's Ownership\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 CALGARY, ALBERTA –\n \n \n TheNewswire -\n \n \n February 16, 2023 –\n \n \n Lithium Chile Inc.\n \n \n (\n \n \n TSXV:LITH\n \n \n ) (OTC:LTMCF)\n \n \n (“\n \n \n Lithium\nChile\n \n \n ” or the “\n \n \n Company\n \n \n ”) welcomes\na significant new shareholder following the sale of\n \n \n Chengze Lithium International Limited’s (“\n \n \n Chengze\n \n \n ”) 19.35%\nequity interest in Lithium Chile to Gator Capital Ltd.\n(“\n \n \n Gator\n \n \n ”).\n \n \n \n \n On November 3, 2022, Chengze received an Order from\nInnovation, Science and Economic Development Canada (“\n \n \n ISEC\n \n \n ”) to divest of\nits 19.35% interest in Lithium Chile. Pursuant to the transaction with\nGator, Chengze has satisfied the Order. The transaction was completed\nfor $34,553,866 or $0.91 per share in Lithium Chile.\n \n \n \n \n Following the Order by ISEC, Lithium Chile terminated\nthe appointment of two senior officers from Chengze to the Company’s\nBoard of Directors.\n \n \n \n \n Steve Cochrane, President & CEO comments\n“\n \n \n I would like to welcome\nGator Capital as a significant shareholder in Lithium Chile Inc. Their\nwillingness to invest in us at a premium to market not only recognizes\nthe inherent value in our Salar de Arizaro project but the value in\nboth our Argentinian and Chilean assets. I would also like to thank\nChengze Lithium for their support and contribution to our ongoing\nsuccess.”\n \n \n \n \n ABOUT GATOR CAPITAL LTD.:\n \n \n \n \n Gator Capital is a Canadian company that focuses on\nindustrial investment; equity investment; asset management and\ninvestment consulting. Their head office is in Toronto, Canada.\n \n \n \n \n ABOUT LITHIUM CHILE:\n \n \n \n \n Lithium Chile is advancing a lithium property portfolio\nconsisting of 111,978 hectares in Chile and 20,800 hectares in\nArgentina.\n \n \n \n \n The Company has a NI 43-101 report with an indicated\nand inferred resource of 2,587,000 tonnes of lithium carbonate\nequivalent (LCE) from its Salar de Arizaro, Argentina project. The\...