Argentina Lithium & Energy Corp. is pleased to announce that it has entered into an amendment (the "Fourth Addendum") to a previously announced option agreement (the "Amelia Option Agreement"). The Fourth Addendum sets the value of the Option Shares (as defined below) to be issued pursuant to the Amelia Option Agreement. 

On March 31, 2022, Argentina Litio Y Energia S.A., a wholly owned subsidiary of the Company ("ALE"), entered into the Amelia Option Agreement with an individual optionor (the "Amelia Optionor"). The Amelia Option Agreement grants ALE the option (the "Amelia Option") to acquire a 100% interest in three granted mine concession properties totaling 5,411 hectares in the Salar de Antofalla in Catamarca Province, Argentina (the "Amelia Properties").

On March 10, 2025, the parties amended the Amelia Option Agreement (the "Third Addendum") to modify the payment and investment schedule under the agreement. To exercise the Amelia Option, ALE must make the following cash payments to the Amelia Optionor:

• US$400,000 by December 31, 2025,
• US$500,000 by June 30, 2026,
• US$600,000 by December 31, 2026, and
• US$620,000 by June 30, 2027.

In addition, ALE must invest US$2,000,000 in the Amelia Properties during the calendar year 2026 and US$4,000,000 during the calendar year 2027.

Pursuant to the Fourth Addendum, the Company must also issue the equivalent number of Company shares (the "Option Shares") having a value of US$100,000 to the Amelia Optionor at a price of $0.06 per share using the Bank of Canada exchange rate of $1.4376 (CAD/USD) as at March 31, 2025, being the date of the Third Addendum. The issuance of the Option Shares is subject to the approval of the TSX-V.

 

Source: prnewswire.com

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