Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQX:LILIF) has applied to the TSX Venture Exchange to extend the expiration date of 35.8 million outstanding warrants from November 21, 2024, to November 21, 2027.
Originally issued as part of a November 2022 private placement, these warrants have an exercise price of $0.40 each, convertible into one common share.
Insiders hold 30.3 million of these warrants, making the extension a "related party transaction" under MI 61-101. However, the company qualifies for exemptions due to the warrants' fair market value being below 25% of its market cap.