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 * OTC:PNXLF
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 * TSX.V LIT $0.27

 * About Us
    * About Argentina Lithium
    * Management
    * Directors
    * Corporate Governance
    * Responsibility

 * Projects
    * Overview
    * Rincon West
    * Antofalla North
    * Pocitos
    * Incahuasi

 * Investors
    * Overview
    * Stock Quote
    * Share Structure
    * Event Calendar
    * Fact Sheet
    * Presentations
    * Financial Statements
    * Shareholder Documents
    * SEDAR
    * FAQ
    * Lithium 101
    * Analyst Coverage

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NEWS


ARGENTINA LITHIUM CLOSES NON-BROKERED PRIVATE PLACEMENT AND ACQUISITION OF
RINCONCITA II AT SALAR DE RINCON

August 25, 2022
View PDF

NOT FOR DISTRIBUTION TO THE UNITED STATES

Vancouver, BC / CNW / August 25, 2022 / Argentina Lithium & Energy Corp. (TSX-V:
LIT, FSE: OAY3, OTC: PNXLF), (“Argentina Lithium” or the “Company”) announces
that it has closed the private placement announced on July 21, 2022 and
increased on August 9 and August 11, 2022, through the issuance of 10,415,000
Units in this 2nd and final tranche (the “Final Tranche”) for aggregate gross
proceeds to the Company of $2,083,000. In total, the Company has closed on
16,630,000 Units for aggregate gross proceeds of $3,326,000.  The Company has
also closed the acquisition of the Rinconcita II mining concession area
(“Rinconcita II”) located on the Salar de Rincon in Salta Province, Argentina
from provincially-owned company Recursos Energéticos y Mineros Salta S.A.
(“REMSA”), as previously announced by the Company on July 21, 2022.

Each Unit consists of one common share and one transferrable common share
purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to
purchase one additional common share in the capital of the Company at $0.38 per
share for two years from the date of issue, expiring on August 25, 2024 for this
Final Tranche.

No Finder's Fees were paid in the Final Tranche. In total, $36,260 were paid in
cash on a portion of the private placement to parties at arm’s length to the
Company. In addition, 181,300 non-transferable finder’s warrants were issued
(the “Finder’s Warrants”).  Each Finder’s Warrant entitles a finder to purchase
one common share at a price of $0.38 per share for two years from the date of
issue, expiring on August 25, 2024.

There were no insiders who participated in the Final Tranche, however, certain
insiders of the Company participated in the Private Placement for $20,000 in
Units. Such participation represents a related-party transaction under
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions (“MI 61-101”), but the transaction is exempt from the
formal valuation and minority shareholder approval requirements of MI 61-101 as
neither the fair market value of the subject matter of the transaction, nor the
consideration paid, exceed 25% of the Company’s market capitalization.

A new Control Person on a diluted basis was created in this tranche. This
individual has agreed that he will not exercise any of the Warrants if such
exercise will result in his beneficially owning or having control or direction
over that number of voting securities of the Company which is 20% or greater of
the total issued and outstanding voting securities of the Company, immediately
after giving effect to such exercise, or result in the undersigned becoming a
“Control Person” as defined in the policies of the TSX Venture Exchange (the
“Exchange”).

This financing is subject to regulatory approval and all securities to be issued
pursuant to this Final Tranche of the financing are subject to a four-month hold
period expiring on December 27, 2022.

The proceeds of the financing were used, in part, to complete the acquisition of
Rinconcita II from REMSA.  The balance of the proceeds will be used for general
working capital and exploration on its properties in Argentina.  In
consideration for the acquisition of Rinconcita II, the Company made a payment
to REMSA of USD$2,500,000 and granted REMSA a 3% net smelter return of mineral
and refined products sourced from Rinconcita II over its production life, if the
property advances to the production stage.  The Company’s acquisition of
Rinconcita II is subject to the final acceptance of the Exchange which should be
available upon filing of a signed copy of the agreement with the Exchange.

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.

The securities being offered have not been, nor will they be registered under
the United States Securities Act of 1933, as amended, or state securities laws
and may not be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons absent U.S. federal and state registration
or an applicable exemption from the U.S. registration requirements. This release
does not constitute an offer for sale of securities in the United States.

Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements that are based on the
Company’s current expectations and estimates. Forward-looking statements are
frequently characterized by words such as “plan”, “expect”, “project”, “intend”,
“believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar
words or statements that certain events or conditions “may” or “will” occur and
include statements regarding regulatory acceptance of the Company’s private
placement and acquisition of Rinconcita II and statements regarding the
Company’s proposed use of proceeds of the private placement. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in such
forward-looking statements. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events
or results or otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such statements
due to the inherent uncertainty therein.


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Argentina Lithium & Energy Corp.
Suite 411 - 837 West Hastings Street
Vancouver, BC Canada V6C 3N6
Tel: 604-687-1828 | Email: info@argentinalithium.com

Argentina Exploration Office
Sobremonte 579, 5500
Mendoza Argentina
Tel: + 54 261 425 9567 | Email: adminar@argentinalithium.com

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 * About Us
   * About Argentina Lithium
   * Management
   * Directors
   * Corporate Governance
   * Responsibility
 * Projects
   * Overview
   * Rincon West
   * Antofalla North
   * Pocitos
   * Incahuasi
 * Investors
   * Overview
   * Stock Quote
   * Share Structure
   * Event Calendar
   * Fact Sheet
   * Presentations
   * Financial Statements
   * Shareholder Documents
   * SEDAR
   * FAQ
   * Lithium 101
   * Analyst Coverage
 * News
   * Argentina Lithium Announces Positive Results from Third and Fourth Drill
     Holes at Rincon West
   * Argentina Lithium Continues to Build on Property Positions at the Rincon
     and Antofalla Salars
   * Positive Lithium Results Continue at Argentina Lithium’s Second Drill Hole
     on Rincon West
   * Argentina Lithium Appoints PI Financial as Market Maker
   * Argentina Lithium Closes Non-Brokered Private Placement and Acquisition of
     Rinconcita II at Salar de Rincon
   * Argentina Lithium Closes 1st Tranche of the Non-Brokered Private Placement
   * Argentina Lithium Increases Non-Brokered Private Placement
   * Argentina Lithium Increases Non-Brokered Private Placement
   * Argentina Lithium Expands Salt Flat Holdings at Salar de Rincon
   * Argentina Lithium Discovers Positive Lithium Results in Initial Drilling at
     Rincon West
   * Argentina Lithium Commences Exploration Drilling at Rincon West
   * Argentina Lithium Geophysics Delineates Potential Extent of Conductive
     Brine Aquifers at Rincon West
   * Argentina Lithium Appoints PI Financial as Market Maker
   * Argentina Lithium Expands Land Position at Salar de Antofalla
   * Argentina Lithium Announces Commencement of Geophysics Program at Rincon
     West Project
   * Argentina Lithium Closes Option Agreement for Rincon West and Pocitos
     Properties in Salta Province
   * Argentina Lithium Receives TSXV Approval to Acquire Rincon West and Pocitos
     Properties in Salta Province
   * Argentina Lithium Significantly Expands Lithium Portfolio; Options
     Additional Properties on Pocitos Salar in Salta Province
   * Argentina Lithium Closes Non-Brokered Private Placement
   * Argentina Lithium Increases Non-Brokered Private Placement and Closes 2nd
     Tranche
   * Argentina Lithium Closes 1st Tranche of the Non-Brokered Private Placement
   * Argentina Lithium Announces Non-Brokered Private Placement
   * Argentina Lithium Signs Definitive Agreement to Acquire Rincon West and
     Pocitos Properties in Salta Province
   * Argentina Lithium Enters Agreement to Acquire Rincon West and Pocitos
     Properties in Salta Province
   * Argentina Lithium Grants Stock Options
   * Argentina Lithium Appoints Mr. Miles Rideout as Vice President of
     Exploration
   * Argentina Lithium Options Additional Properties at Salar de Antofalla
   * Argentina Lithium Grants Stock Options
   * Argentina Lithium Appoints New Director
   * Argentina Lithium Closes Over-Subscribed Non-Brokered Private Placement
   * Argentina Lithium Increases Non-Brokered Private Placement
   * Argentina Lithium Announces Non-Brokered Private Placement
   * Argentina Lithium Comments on Trading Activity
   * Argentina Lithium Announces Reliance on Temporary Blanket Relief
   * Argentina Lithium Closes Over-Subscribed Non-Brokered Private Placement
   * Argentina Lithium Announces Non-Brokered Private Placement
   * Argentina Lithium Corporate Update
   * Argentina Lithium Completes Share Consolidation
   * Argentina Lithium Provides a Forward Strategy
   * Argentina Lithium Applies to Extend Warrants
   * Argentina Lithium Provides Updates on its Argentine Lithium Brine
     Exploration Programs – Brine Targets Identified at Antofalla Norte
   * Argentina Lithium Initiates Deep Geophysical Survey at Arizaro Project
   * Argentina Lithium Announces Adoption of Advance Notice Provision
   * Argentina Lithium Begins Drilling at Incahuasi Salar
   * Argentina Lithium Acquires Property on Antofalla Salar, Argentina
   * Argentina Lithium to Begin Drilling at Incahuasi Salar
   * Argentina Lithium Grants Stock Options
   * Argentina Lithium Financing Oversubscribed to Raise $4.1M; Final Tranche of
     Non-Brokered Private Placement Closed
   * Argentina Lithium Provides Update on Non-Brokered Private Placement
   * Argentina Lithium Closes First Tranche of Non-Brokered Private Placement
   * Argentina Lithium Amends Warrant Terms in Non-Brokered Private Placement
   * Argentina Lithium Announces Non-Brokered Private Placement
   * Argentina Lithium Expands Holdings, Plans Up to 10,000 metres of Drilling
     at Lithium Projects
   * Argentina Lithium Confirms Lithium at Depth at Arizaro Salar and Extends
     Testing Program
   * Argentina Lithium Acquires Entire Salar in Catamarca Province; Samples 409
     mg/L Li at Surface
   * Argentina Lithium Confirms No Material Undisclosed Information
   * Argentina Lithium Commences Drill Testing at Arizaro Lithium Project
   * Argentina Lithium Identifies Drill Targets at Arizaro Lithium Project
   * Argentina Lithium Initiates Exploration Program at Arizaro Lithium Project
   * Argentina Lithium Appoints Dr. Daniel Galli As Director of Technical
     Operations
   * Argentina Lithium Shareholders Appoint New Board Members; Approve Corporate
     Changes
   * Argentina Lithium Secures First Brine Project
   * Argentina Lithium Closes $2M Private Placement
   * Argentina Lithium Completes $2M Private Placement
   * Argentina Lithium Announces Private Placement
   * Iron South Announces Effective Date of Change of Name
   * Iron South Closes Private Placement
   * Iron South Provides Corporate Update Announces Non-Brokered Private
     Placement
 * Contact