Revised Terms Announced for Brokered Private Placement
Argentina Lithium & Energy Corp. (TSXV: LIT, FSE: OAY3, OTCQB: LILIF) announced on February 24, 2026, revised terms for its previously disclosed brokered private placement. The company now aims to raise gross proceeds of up to C$4.3 million. This financing initiative is intended to support the exploration and advancement of its key Rincon West lithium project in Argentina, alongside providing capital for general corporate purposes and working capital.
Details of the Offering
Under the revised terms, Argentina Lithium & Energy Corp. plans to sell up to 35,833,334 units at a price of C$0.12 per unit. Each unit will comprise one common share of the company and one common share purchase warrant. These warrants will entitle the holder to purchase an additional common share at an exercise price of C$0.16 for a period of 36 months following the closing date.
Red Cloud Securities Inc. has been appointed as the sole agent and bookrunner for this offering. Additionally, Red Cloud Securities holds an option to sell an extra 4,166,667 units, which could generate up to an additional C$500,000 in gross proceeds, potentially increasing the total raise to C$4.8 million.
Purpose of Funds and Expected Closing
The net proceeds from this private placement are primarily earmarked for the ongoing exploration and development activities at the company's Rincon West lithium project, a significant asset located in Argentina's lithium-rich salars. The funds will also be allocated for general corporate purposes and working capital.
The offering is structured to be conducted under the listed issuer financing exemption in several Canadian provinces, allowing the resulting securities to be freely tradeable in Canada. It will also be offered via private placement in the United States and other international jurisdictions, subject to local securities laws. The closing of the offering is anticipated to occur on or about March 10, 2026, pending customary regulatory approvals, including that of the TSX Venture Exchange.
Company Background and Strategic Focus
Argentina Lithium & Energy Corp. is a Canadian exploration company dedicated to acquiring and advancing high-quality lithium projects in Argentina. The company's strategic focus is on meeting the increasing global demand for lithium, driven by the battery and electric vehicle sectors. It currently operates four lithium projects spanning over 70,000 hectares within Argentina's renowned Lithium Triangle. The company has also received a strategic investment from Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., further solidifying its position in the region.
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