Argentina Lithium completes C$4.4 million private placement

Argentina Lithium & Energy Corp. (TSXV: LIT) closed a private placement raising C$4,379,200 through the sale of 36,493,334 units at C$0.12 per unit, the company announced March 10.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at C$0.16 from May 9, 2026 through March 10, 2029.

Red Cloud Securities Inc. served as sole agent and bookrunner for the offering, receiving a cash fee of C$289,044 and 2,408,700 broker warrants exercisable at the offering price until March 10, 2029.

The company plans to use proceeds for exploration and advancement of its Rincon West lithium project in Argentina, along with working capital and general corporate purposes.

The offering included participation by company insiders who purchased 380,000 units, constituting a related party transaction under applicable securities regulations. The company was exempt from formal valuation and minority shareholder approval requirements as the transaction value was below regulatory thresholds.

Securities issued to Canadian purchasers under the listed issuer financing exemption are immediately freely tradeable, subject to exchange policies. The offering remains subject to final approval from the TSX Venture Exchange.

Argentina Lithium operates four lithium projects covering over 70,000 hectares in Argentina's Lithium Triangle region. The company has received strategic investment from Peugeot Citroen Argentina S.A., a subsidiary of automaker Stellantis N.V.

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