Lithium Chile Inc. (LITH) provides an update on the proposed spin-out transactions involving two newly formed subsidiaries: Lithium Chile 2.0 Inc. and Kairos Gold Inc.

Lithium Chile’s Spin-Out Transactions

Lithium Chile will retain its advanced Salar de Arizaro lithium project. The remaining lithium properties will be transferred to Lithium Chile 2.0 Inc., and properties prospective for gold, copper, and silver will go to Kairos Gold Inc.

Shareholder Approval

Shares of both Lithium Chile 2.0 Inc. and Kairos Gold Inc. are intended to be spun out to the company’s shareholders. A special meeting of shareholders to approve this transaction is scheduled for October 7, 2024. Materials to help shareholders make an informed decision have been filed with the TSX Venture Exchange.

Technical Report and Valuations

The completion of NI 43-101 compliant technical reports and independent valuations required delaying the special shareholder meeting. Lithium Chile has applied to list Kairos Gold Inc. on the TSX Venture Exchange, with the spin-out occurring immediately after the shareholder meeting.

Arizaro Property and Lithium Chile 2.0 Inc.

Completion of the spin-out for Lithium Chile 2.0 Inc. is contingent upon concluding the strategic process involving the Arizaro property, which is supported by a prefeasibility study confirming robust economics.

About Lithium Chile

Lithium Chile is an exploration company with 11 properties in Chile, totaling 106,136 hectares, and 29,245 hectares on the Salar de Arizaro in Argentina. The company has completed NI 43-101 compliant reports, including a Resource Report and Preliminary Economic Assessment. Recently, the company finished a NI 43-101 compliant Prefeasibility Study.

In Chile, Lithium Chile also owns 4 properties totaling 22,433 hectares, prospective for gold, silver, and copper. The company’s shares are listed on the TSX-V as ‘LITH’ and on OTCQB as ‘LTMCF.’

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