Lithium Chile Inc. (
TSX: V.LITH,
Forum) on Wednesday released an update on a proposed spin out of its Chilean copper gold assets and the arranging of a $4 million private placement.
The company said it anticipates using existing working capital to complete the previously announced spin out of its Chilean copper-gold-silver property portfolio into a stand-alone, publicly listed company called Kairos Metals Corp.
The company also plans to complete a non-brokered private placement of up to 4,000,000 units at a price of $1 per unit for aggregate proceeds of $4 million.
More information can be found
here.
Lithium Chile was in the news recently when it increased its lithium land package in Chile by 150%.
FULL DISCLOSURE: Lithium Chile Inc is a paid client of Stockhouse Publishing.