New York, New York--(Newsfile Corp. - June 25, 2018) - NetworkNewsAudio announces the Audio Press Release (APR) titled "Anticipated Lithium Deficits Boost Outlook for Miners," featuring Lithium Chile Inc. (TSXV: LITH) (OTCQB: LTMCF).
To hear the NetworkNewsAudio version, visit: http://nnw.fm/8bAXe
To read the original editorial, visit: http://nnw.fm/VBs9c
Indicative of international investment interest in the sector, Lithium Chile announced last week a Memorandum of Understanding to enter a joint venture transaction with Hong Kong-based investment company Prosper One International Holdings Company Limited. The proposed transaction with Prosper One requires them to spend $3 million to earn a 55 percent interest in Lithium Chile's Norte project. Prosper One will invest the $3 million in staged exploration on the Norte project on or before Dec. 31, 2018, and will make a $1 million equity investment in Lithium Chile at a minimum of $1 per share. With a plethora of lithium-rich indicated properties it seems suitors are starting to line up.
The MOU designates Lithium Chile the operator on the Norte exploration programs and it will receive a management fee from Prosper One equal to 17.5 percent of the funds expended on the Norte exploration programs. As a testament to the seriousness of their intent, Prosper One must pay Lithium Chile a $250,000 break fee if a definitive agreement isn't signed.
Cochrane commented, "We are pleased to have reached this agreement with Prosper One, which accelerates our ability to unlock the potential of our dominant land package Chile. We are essentially combining our technical expertise and Chilean experience, with Prosper One's financial acumen and support, to explore our highly prospective Norte project in Chile. We look forward to a mutually rewarding working relationship."
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 152,900 hectares covering sections of 14 salars and one laguna complex in Chile. The properties include 64 square kilometers on the Salar de Atacama, which hosts the world's highest concentration lithium brine production and is currently the source of approximately 30 percent of the world's lithium production. Lithium Chile's common shares are listed on the TSX.V under the symbol "LITH" and on the OTCQB under the symbol "LTMCF." For more information, visit the company's website at http://nnw.fm/LTMCF
To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO or Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: info@lithiumchile.ca.
On Behalf of the Board of Directors,
LITHIUM CHILE INC.
Steven Cochrane
President & CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, this news release contains forward-looking statements relating to, among other things, management of the Company's views regarding commencement of its anticipated drilling program.
You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific material factors and assumptions include, but are not limited to: the general stability of the economic and political environment in which the Company operates; the timely receipt of required regulatory approvals; the ability of the Company to obtain future financing on acceptable terms; currency, exchange and interest rates; operating costs; and the success the Company will have in exploring its prospects and the results from such prospects. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
