VANCOUVER, B.C., Nov. 21, 2017 (GLOBE NEWSWIRE) -- Argentina Lithium & Energy Corp. (TSX-V:LIT)
(FSE:OAY1) (WKN:A0RK7E) (OTC:PNXLF) (“Argentina Lithium” or the “Company”) is pleased to announce a
non-brokered private placement financing of up to 10,000,000 units at a price of $0.33 per unit for gross proceeds of $3,300,000.
Each unit will consist of one common share and one transferrable common share purchase warrant. Each warrant
will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.40 per share for one
year from the date of issue. If the volume weighted average price for the Company's shares is $0.60 or greater for a period of 5
consecutive trading days, then the Company may deliver a notice (the "Notice") to the warrantholder that the Warrants must be
exercised within twenty (20) days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m.
(Vancouver time) on the twenty-first (21st) day after the date of delivery of the Notice. The accelerated exercise shall not apply
until the expiration of the four-month hold period required under Exchange policies and rules, and securities laws that are
applicable to the Company.
This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are
subject to a four-month hold period under applicable Canadian securities laws. Directors, officers and employees of the Company may
participate in a portion of the financing. A commission may be paid on a portion of the financing. The proceeds of the financing
will be used for exploration programs on the Company’s projects in Argentina and for general working capital.
About the Arizaro Lithium Project
The Company has the option to earn a 100% interest in the Arizaro Lithium Brine Project, including 27,350
hectares in the central core of the Arizaro Salar, the largest in Argentina and third largest in the "Lithium Triangle". Very
little historic exploration work has been done on the Arizaro Salar, however the central area is interpreted to have the geologic
conditions to be the most prospective for quality brine resources. Furthermore, the Arizaro Salar benefits from a strategic
location for infrastructure, including: a railway that connects to the deep water port of Antofagasta, nearby advanced mining
projects that are expected to bring significant development of access routes and power, and the availability of water for
development.
About the Incahuasi Lithium Project
The Company has acquired a 100% interest in, or has under application, mineral rights totaling 23,700 hectares
covering the entire Incahuasi salar and basin in Catamarca Province, Argentina. The salar is situated within the "Lithium Triangle"
of Argentina and Chile, and has characteristics prospective for lithium-rich brines. Initial sampling of near-surface brines has
returned up to 409mg/L lithium, and geophysical surveying indicates the potential for lithium-rich brines at depth.
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina, and advancing them towards
production in order to meet the growing global demand from the battery sector. The management group has a long history of success
in the resource sector of Argentina, and has assembled a first rate team of experts to acquire and advance the best lithium
properties in the world renowned “Lithium Triangle”. The Company is a member of the Grosso Group, a resource management group that
has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
“Nikolaos Cacos”
_______________________________
Nikolaos Cacos, President, CEO and Director
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@argentinalithium.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future
events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more
detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or
revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit
information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties
are not indicative of mineral deposits on our properties.
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Terminal City Club Tower, Suite 312 - 837 West Hastings Street |
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Vancouver, BC CANADA V6C 3N6 |
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TSX Venture Exchange (TSX-V): LIT |
Tel: 604-687-1828 • Fax: 604-687-1858 • Toll Free:
1-800-901-0058 |
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Frankfurt Stock Exchange (FRA): OAY1 (WKN:
A0RK7E) |
www.argentinalithium.com
info@argentinalithium.com
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OTCQB Venture Market (OTC): PNXLF |