Lithium Power Intl.(ASX: LPI)
Updated on the consolidation of 100% ownership of LPI’s flagship Maricunga lithium brine project in Chile.
The consolidation is due to complete “imminently”, according to the company.
.
.
.
.
.
| Lithium Power Intl. | ASX : LPI |
| Stage | Exploration |
| Metals | Lithium |
| Market cap | A$176 m @ A$0.45 |
| Location | Maricunga, Chile and Western Australia |
.
.
.
LPI’s CONSOLIDATION OF 100% OF THE MARICUNGA PROJECT TO COMPLETE IMMINENTLY
Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) provides an update on the consolidation of 100% ownership of LPI’s flagship Maricunga lithium brine project in Chile (“Maricunga” or the “Project”). As announced on 22 June 2022, the company entered into definitive binding agreements to consolidate ownership of Maricunga via two all scrip mergers with its joint venture partners Minera Salar Blanco SpA (“MSB SpA” and 33.31% interest) and Bearing Lithium Corp. (BRZ:TSXV) (“Bearing” and 17.14% interest) (individually the “Transaction” or together the “Transactions”). MSB SpA has now contributed its 31.31% interest in Maricunga to Delaware company, Salar Blanco, LLC (“SBD”), a wholly owned subsidiary of MSB SpA. The second court hearing for the scheme with SBD has now been conducted, and the court has approved the scheme. LPI is progressing to complete the merger with SBD to consolidate MSB SpA’s 31.31% interest in Maricunga (“SBD Transaction”). The transaction with Bearing for its 17.14% interest will be completed by way of a Canadian Plan of Arrangement (“Bearing Transaction”), which has been approved by Bearing Shareholders and the Canadian court. The final condition to the Bearing Transaction is the completion of the SBD Transaction. Now that the court has approved the scheme for the SBD Transaction, the completion . . . Lithium Power’s Chairman, David Hannon, said:
. To read the full news release, please click HERE .. ======= If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com ======= . City Investors Circle is based in the financial district in the City of LondonWe present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies. Our audience is selected and invited individually to ensure interest and relevance for the presenting company. Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation. We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter. If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com . ======= , This website is not sponsored, we are truly independent, and will always remain so.Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team. All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this. These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.. . . To read our full terms and conditions, please click HERE |