Lithium Chile Inc. (TSXV:LITH) entered into a purchase agreement to acquire an additional 17.80% stake in Arizaro Project in Argentina from LitiAr S.A for CAD 14.9 million on December 9, 2024. According to the Agreement, Lithium Chile will acquire the additional interest by issuing 19,000,000 common shares and making a cash payment of CAD 2.7 million. Upon completion, Lithium Chile Inc. will own 80% stake in Arizaro Project in Argentina.

Lithium Chile is required to finalize the purchase within a 90-day timeframe. However, should Lithium Chile be engaged in finalizing a formal agreement for the sale of its stake in the Arizaro Project, the completion deadline will be extended to 60 days after the conditions of the sale agreement are met. Additionally, the purchase price for the additional interest in the Arizaro Project may be subject to adjustments under specific conditions.