Company
CVE:LIT
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina, and advancing them towards production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina, and has assembled a first rate team of experts to acquire and advance the best lithium properties in the “Lithium Triangle”. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
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The company is a member of the well-known Grosso Group, which has been a pioneer in the mineral exploration sector in Argentina since the early 1990s
The group recently acquired two prime lithium exploration properties in famous 'Lithium Triangle' in Argentina
The financing has now been increased to C$6.75 million from C$4.95 million and now comprises the issue of 15 million units at C$0.45 each, the firm said in a statement
A recent study by Market Reports World noted that the global lithium market will reach a staggering US$6187.8 million by the end of 2027, compared to US$3877.7 million in 2020
The lithium company issued 6,108,504 units at a subscription price of $0.45 per unit in the first tranche, for aggregate gross proceeds of $2,748,826.80
The company will offer up to 11 million units at a price of $0.45 per unit for gross proceeds of C$4.95 million
The firm announced a letter of intent with a local vendor to acquire the 2,370 hectare (Ha) Rincon West property and the 15,857 Ha Pocitos asset
Nikolaos Cacos, president and CEO of the company said: "His experience in South American lithium exploration and track record of discoveries brings the right skillset required for Argentina Lithium to achieve success"
The company has entered into an option agreement with a group of three local vendors to earn a 100% interest in three granted mine concession properties totaling 5,380.5 hectares situated adjacent to the company's 9,000 hectares of 100% hel
Gammon has four decades of experience in mineral exploration and management
The proceeds of the financing will be used for general working capital, the company said
