Argentina Lithium Enters into Amendment to Previously Executed Paso de Sico Option Agreement
TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQB Venture Market: LILIF
VANCOUVER, BC, July 23, 2025 /CNW/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQB: LILIF), ("Argentina Lithium" or the "Company") is pleased to announce that it has entered into an amendment to a previously announced option agreement (the "Amendment"). The Amendment modifies the payment schedule and establishes the value of shares the Company is obligated to issue pursuant to the exercise of the option under the option agreement.
On September 20, 2022, Argentina Litio Y Energia S.A., a wholly owned subsidiary of the Company ("ALE"), entered into an option agreement (the "Paso de Sico Option Agreement") with nine individual optionors (the "Paso de Sico Optionors" and, together with ALE, the "Paso de Sico Parties"). The Paso de Sico Option Agreement contains an option for ALE to acquire a 100% interest in four contiguous mine concessions totaling 791.3 hectares at the Salar de Rincon from the Paso de Sico Optionors (the "Paso de Sico Option"). To exercise the Paso de Sico Option, ALE must make cash payments to the Paso de Sico Optionors totaling US$1,500,000 paid over three years. On March 25, 2025, the Paso de Sico Parties entered into a second addendum to the Paso de Sico Agreement (the "Second Addendum") amending the due date of the fifth and final cash payment of US$418,000 from March 31, 2025 to September 30, 2025 in exchange for ALE agreeing to pay the Paso de Sico Optionors an additional US$41,800 extension fee (the "Extension Fee"). Subject to the approval of the TSX-V and pursuant to the terms of the Amendment, the Company intends to pay the Extension Fee by issuing an aggregate of 995,954 shares of the Company to the Paso de Sico Optionors at a price of $0.06 per share using the Bank of Canada exchange rate of 1.4296 (USD/CAD) as at March 25, 2025, being the date of the Second Addendum.
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them towards production in order to meet the growing global demand from the battery sector. The Company's strategic investment by Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the world's leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects covering over 70,000 hectares in the Lithium Triangle of Argentina. Management has a long history of success in the resource sector of Argentina and has assembled some of the most prospective lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_______________________________
Nikolaos Cacos, President, CEO and Director
For further information, please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements and information that may be considered "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, without limitation, the Company's expectation that it will meet the requirements of the TSX Venture Exchange necessary to issue shares pursuant to the Amelia Option Agreement and the Paso de Sico Option Agreement and the Company's business strategy, plans and outlooks.
There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include: the risk that the necessary regulatory approvals will not be obtained, including the approval of the Exchange; risks associated with the business of the Company; business and economic conditions in the mining industry generally; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities regulators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
SOURCE Argentina Lithium & Energy Corp.
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