Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQX:LILIF) announced that it has closed a brokered LIFE (Listed Issuer Financing Exemption) private placement, raising approximately C$4.38 million.
The financing included the partial exercise of the agent’s option and was conducted on a “best efforts” basis, the company said on Tuesday.
The company sold 36.49 million units at C$0.12 per unit. Each unit includes one common share and one common share purchase warrant, exercisable at C$0.16 from May 9, 2026, to March 10, 2029. Red Cloud Securities Inc. acted as sole agent and bookrunner for the placement.
Proceeds from the offering are intended to support exploration and development of Argentina Lithium’s Rincon West lithium project, as well as general corporate and working capital needs.
Red Cloud received a cash fee of about C$289,000 and 2.41 million non-transferable broker warrants exercisable at the offering price until March 10, 2029, subject to a Canadian hold period expiring July 11, 2026.