Latin Resources Ltd (ASX:LRS) has received consideration of just over $1.2 million from the early exercise of share options by the company’s largest shareholder, Jose Luis Manzano, founder of Integra Capital.
The options have been exercised months ahead of their maturity in December this year, doubling Manzano’s share holding and demonstrating his strong support for Latin’s recent lithium spodumene discovery at the Salinas Lithium Project in Brazil.
The funds from these exercised options will be used to expand work programs at the Salinas project.
This most recent option exercise brings the total Latin Resources options exercised over a 12-month period to a total of 223,000,876, translating to funds of $2.676 million for the company.
Latin has enjoyed a long-term positive relationship with Integra Capital as its joint venture partner for the Catamarca Lithium Project in Argentina. The company says it looks forward to continuing to build the relationships with Integra and its president.
About Integra Capital
Integra is an investment company with a diversified portfolio of interests in more than ten countries.
The company is one of Argentina’s largest lithium explorers and has also developed a portfolio of oil exploration and production, natural gas distribution, and electricity generation and distribution assets.
Integra also has investments in uranium and copper, and provides services such as mergers and acquisitions, financial structuring, IPOs, due diligence procedures, debt and company restructuring.
About Latin Resources
Latin Resources is an Australian-based mineral exploration company with projects in Australia and South America, focused on developing mineral projects in commodities that progress global efforts towards Net Zero emissions.
In Latin America the company’s focus is on its two Lithium projects, one in the state of Minas Gerais, Brazil and the other, the Catamarca Lithium Project in Argentina.
The Australian projects include the Cloud Nine Halloysite-Kaolin Deposit. Cloud Nine Halloysite is being tested by CRC CARE aimed at identifying and refining halloysite usage in emissions reduction, specifically for the reduction in methane emissions from cattle.