/NOT FOR DISTRIBUTION TO
THE UNITED STATES/
VANCOUVER,
BC, Nov. 3, 2022 /CNW/ - Argentina
Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF)
("Argentina Lithium" or the "Company") is pleased to
announce a non-brokered private placement financing of up to
24,000,000 units at a price of $0.25
per unit (the "Units") for gross proceeds of $6,000,000.
Each Unit will consist 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 $0.40 per share for two (2) years from the date
of issue.
This financing is subject to regulatory approval
and all securities to be issued pursuant to the financing are
subject to a four-month hold period under applicable Canadian
securities laws. Directors, officers and employees of the Company
may participate in a portion of the financing. A commission may be
paid on a portion of the financing. The proceeds of the financing
will be used for general working capital and exploration on its
properties in Argentina.
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on
advancing high quality lithium projects in Argentina toward production in order to meet
the growing global demand from the battery sector. The Company is a
member of the Grosso Group, a resource management group that has
pioneered exploration in Argentina
since 1993. The Grosso 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 "Lithium Triangle".
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_________________________
Nikolaos Cacos, President, CEO and
Director
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.
SOURCE Argentina Lithium & Energy Corp.