This Lithium Microcap Just Entered Into a Major $175M Transaction
On a broader risk-on trading day, a significant transaction was announced in the lithium sector, driving shares of the acquired company higher.Lithium Chile Inc. (TSX-Venture: LITH) (OTCQB: LTMCF) announced this morning that they have entered into a definitive agreement with China Union Holdings Ltd. to sell their Argentine subsidiary, Argentum Lithium S.A., which holds interests in the Arizaro salar lithium project in Salta Province, Argentina. The all-cash transaction is valued at US$175 million, with 92.5% payable at closing and the remaining 7.5% held in escrow for 18 months to cover ...