Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQX:LILIF) said on Wednesday it has amended an option agreement for the Amelia lithium properties in Argentina, setting the value of shares to be issued to the project’s optionor.
The company’s subsidiary, Argentina Litio Y Energia, holds an option to acquire a 100% interest in three mine concessions covering 5,411 hectares in the Salar de Antofalla, Catamarca Province.
Under the latest amendment, Argentina Lithium will issue the optionor shares worth $100,000 at $0.06 per share, based on a Bank of Canada exchange rate of 1.4376 CAD/USD.
The deal also requires cash payments totaling $2.12 million through June 2027 and investments of $6 million in the properties over 2026 and 2027.