Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQB:PNXLF) said it has closed the $90-million investment in Argentine-peso equivalent in Argentina Litio y Energia SA (ALE) by Stellantis NV (NYSE:STLA, EPA:STLA).
Peugeot Citroen Argentina SA, a subsidiary of Stellantis, invested the Argentine-peso equivalent of $90 million in Argentina to acquire shares of ALE. The company also granted Stellantis the right to exchange all of the ALE shares for up to 19.9% of the outstanding common shares of Argentina Lithium in the future, subject to some conditions.