Business
Lithium Chile And China Union Extend Drop-Dead Date For US$175 Million Arizaro Transaction
(TheNewswire) CALGARY, ALBERTA, June 18, 2026 – TheNewswire - Lithium Chile Inc....
About this update from Lithium Chile Inc
Lithium Chile And China Union Extend Drop-Dead Date For US$175 Million Arizaro Transaction (TheNewswire) CALGARY, ALBERTA, June 18, 2026 – TheNewswire - Lithium Chile Inc. (“Lithium Chile” or the “Company”) announces that it has entered into an extension agreement (the “Agreement”) with China Union Holdings Ltd. ("China Union” or “CUH") to extend the drop-dead date of the definitive share purchase agreement (the “Definitive Agreement”) pertaining to the previously announced sale of the Company’s Arizaro project, located in Salta, Argentina. Pursuant to the Definitive Agreement, the parties have agreed to a 60-day extension, resulting in a revised drop-dead date of August 20, 2026. There were no other amendments made to the Definitive Agreement. The extension provides China Union additional time to obtain approval for the transfer of funds from China to pay the purchase price and certain costs associated with the development of the Arizaro project (the “Approval”). The Agreement also provides that Lithium Chile shall be entitled to participate in the approval process, which is currently underway. "The extension was agreed to in recognition of the substantial progress made toward satisfying the remaining closing conditions” said Steve Cochrane, President and CEO of Lithium Chile. “We continue to work closely with CUH and appreciate its ongoing commitment to closing the transaction.” China Union continues to dedicate resources to the advancement of the Arizaro project. During May 2026, CUH funded and deployed a delegation of engineers and technical specialists from China to Salta, Argentina, where the delegation spent two weeks advancing project planning. Following the visit, China Union recruited one of China's leading direct lithium extraction production managers to its team, strengthening its in-house technical capabilities and supporting its efforts to advance the Arizaro project toward production. The Agreement provides for an additional extension to October 19, 2026, should further time be required to satisfy closing condition(s).   ABOUT LITHIUM CHILE Lithium Chile Inc. is an exploration company with a portfolio of 11 properties spanning 106,136 hectares in Chile and 29,245 hectares on the Salar de Arizaro in Argentina. The Compa...