LITH welcomes new shareholder! Lithium Chile Inc./TSXV: LITH: Welcomes significant new shareholder following the government ordered divesture of Chengze’s ownership
Analyst Opinion: Chengze Lithium (SZSE:002240) has divested its ownership in LITH. Last year, the Canadian government had ordered Chengze and two other Chinese firms to divest of their investments in Canadian lithium juniors. Chengze has sold its 19.3% interest in LITH to Gator Capital Ltd. (an investment manager based out of Toronto) for $35M, or $0.91 per share. This deal reflected a 17% premium to LITH’s last closing price. We believe this premium reflects Gator’s conviction in LITH’s projects and its management team.
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