NetworkNewsAudio Announces Audio Press Release (APR) on Lithium Chile Inc. Accelerates Land Package Potential Amidst Market Deficits
New York, New York--(Newsfile Corp. - June 25, 2018) - NetworkNewsAudioannounces 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
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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