Argentina Lithium & Energy (TSX-V:LIT) has closed a private placement, raising C$4.4 million ($4.53 million) to advance exploration at its Rincon West Lithium Project in Argentina.
The company sold 36,493,334 units at C$0.12 per unit, with each unit comprising one common share and one warrant exercisable at C$0.16 from 9 May 2026 until 10 March 2029.
Red Cloud Securities acted 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 10 March 2029.
Proceeds will be used for exploration and advancement of its Rincon West lithium project, along with working capital and general corporate purposes.
Argentina Lithium holds four key projects covering more than 70,000 hectares in Argentina’s Lithium Triangle. The company recently secured a strategic investment from Stellantis subsidiary Peugeot Citroen Argentina.
Edited by Amy Rotman
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Images: Argentina Lithium
