VANCOUVER, BC (By Argentina Lithium, 23.Jul.2025, Words: 294) — Argentina Lithium & Energy Corp. has entered into an amendment to a previously announced option agreement. The amendment modifies the payment schedule and establishes the value of shares the company is obligated to issue pursuant to the exercise of the option under the option agreement.
On September 20, 2022, Argentina Litio Y Energia S.A., a wholly owned subsidiary of the company (“ALE“), entered into an option agreement with nine individual optionors (the “Paso de Sico Optionors” and, together with ALE, the “Paso de Sico Parties“).
The Paso de Sico Option Agreement contains an option for ALE to acquire a 100% interest in four contiguous mine concessions totaling 791.3 hectares at the Salar de Rincon from the Paso de Sico Optionors (the “Paso de Sico Option“). To exercise the Paso de Sico Option, ALE must make cash payments to the Paso de Sico Optionors totaling US$1,500,000 paid over three years. On March 25, 2025, the Paso de Sico Parties entered into a second addendum to the Paso de Sico Agreement amending the due date of the fifth and final cash payment of US$418,000 from March 31, 2025 to September 30, 2025 in exchange for ALE agreeing to pay the Paso de Sico Optionors an additional US$41,800 extension fee.
Subject to the approval of the TSX-V and pursuant to the terms of the Amendment, the company intends to pay the Extension Fee by issuing an aggregate of 995,954 shares of the company to the Paso de Sico Optionors at a price of $0.06 per share using the Bank of Canada exchange rate of 1.4296 (USD/CAD) as at March 25, 2025, being the date of the Second Addendum.
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