Lithium Power Intl. (ASX: LPI)

Refers to recent media speculation (including as published by Bloomberg on 11 October 2023 regarding discussions between Corporación Nacional del Cobre de Chile (“Codelco”) and Lithium Power about a potential transaction.

Lithium Power International project area

Lithium Power Intl.	ASX : LPI
Stage	Exploration
Metals	Lithium
Market cap	A$261 m @ A$0.41
Location	Maricunga, Chile and Western Australia

LITHIUM POWER INTERNATIONAL RESPONSE TO MEDIA SPECULATION

Lithium Power International Limited (ASX: LPI) (“Lithium Power” or “the Company”) refers to recent media speculation (including as published by Bloomberg on 11 October 2023 (“Bloomberg Article“)) regarding discussions between Corporación Nacional del Cobre de Chile (“Codelco”) and Lithium Power about a potential transaction.

Further to the Company’s announcement on 28 September 2023, Lithium Power reconfirms that it continues to be in discussions with Codelco regarding a potential transaction, but these discussions remain incomplete and no agreement on terms has yet been reached.

Codelco is continuing to undertake its due diligence investigations.

In relation to specific speculation stated in the Bloomberg Article, Lithium Power confirms the following:

the price stated in the article in relation to a potential transaction with Codelco of “about 50 Australian cents per share” is incorrect;
the discussions between Codelco and Lithium Power continue to remain incomplete and no terms for any potential transaction (including as to price) have yet been agreed; and
there is no certainty that the discussions with Codelco will lead to the consummation of any potential transaction.

Lithium Power will continue to keep the market fully informed, in accordance with its continuous disclosure obligations.

Lithium Power has appointed Canaccord Genuity (Australia) Limited as financial adviser and Ashurst Australia as legal adviser.

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

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Disclosure

At the time of writing the author holds no shares in Lithium Power International.

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Lithium Power Response to Media Speculation