Lithium Chile Advances Sale of Arizaro Project with Due Diligence Complete
CALGARY, ALBERTA -- February 20, 2025 -- NewsGenie -- Lithium Chile Inc. has announced significant progress in the proposed sale of its 80% interest in the Salar de Arizaro project for USD $180 million. The buyer has completed its due diligence, prompting the drafting of the final definitive agreement.
The company reports that a comprehensive review of financial, legal, operational, and technical aspects has been underway since early December 2024. With due diligence essentially completed, both parties are moving forward to finalize the contractual framework, outlining transaction terms, closing conditions, and the expected Closing Date.
Steve Cochrane, President and CEO of Lithium Chile, stated that the completion of due diligence and progress towards a definitive agreement marks a major milestone. The company is focused on finalizing the agreement to maximize value for shareholders, working with advisors and stakeholders to bring the transaction to a successful close.
Lithium Chile is committed to a seamless transition, collaborating with regulatory bodies, legal teams, and the buyer to meet all closing requirements. The company will provide further updates as the process progresses.
Lithium Chile Inc. is an exploration company with a portfolio of 11 properties spanning 107,936 hectares in Chile and 29,245 hectares on the Salar de Arizaro in Argentina.
Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTCQB Under the symbol “LTMCF”.