VANCOUVER, Feb. 27, 2017 /CNW/ - ("Lithium X", or the
"Company")(TSX-V: LIX)(OTCQX: LIXXF) is pleased
to announce it has been recognized in the 2017 TSX Venture
50® as the mining sector's top performing company. The Company
ranked number one in the sector.
About TSX Venture 50™
Each year, TSX Venture Exchange (TSXV) provides a ranking of our
listed companies that have shown notable results in key measures of
market performance.
The 2017 TSX Venture 50® ranking of top
performing companies highlights five industry sectors: Clean
Technology and Life Sciences, Diversified Industries, Mining, Oil
& Gas, and Technology. We select 10 companies from each sector
based on three equally weighted criteria: market capitalization
growth, share price appreciation and trading volume.
TSX Venture Exchange is Canada's leading capital formation platform
for growth stage companies and an important part of Canada's vibrant and unique capital markets
continuum.
Lithium X is featured in a TSX Venture 50 video at:
https://www.youtube.com/watch?v=v5N2C-PvVyw
Update on Arizaro Project
Further to the Company's news release of January 30th, 2017, the Company has
completed the payment and thus secured the acquisition of the
Arizaro lithium brine project (the "Project") in Argentina's Salta
Province. The Project consists of 33,846 hectares in 11
mining claims covering parts of the western and eastern portions of
the Salar de Arizaro, one of the district's largest known salt
lakes.
In consideration for the Project, Lithium X has paid USD
$250,000 and issued 3,500,000 common
shares to the Vendor for a 100% interest in the Project. Payment of
the consideration secured for Lithium X, the acquisition of the
Project and right to execute public deed and registration of the
assignment of the Project. In connection with the
acquisition, a finder's fee of 5% of the total acquisition price
(USD $12,500 and 175,000 common
shares) was also paid. All common shares issued pursuant to
the acquisition and the finder's fee are subject to a four month
hold period expiring June 3,
2017.
About Lithium X Energy Corp
Lithium X Energy Corp. is a lithium exploration and development
company with a goal of becoming a low-cost supplier for the
burgeoning lithium battery industry. The Company holds
properties in Salta, Argentina and
Nevada, USA. The Company's
flagship project Sal de los Angeles lithium brine project as well
as the newly acquired Arizaro Lithium Brine Project are located in
the prolific "Lithium Triangle" in mining friendly Salta province,
Argentina. Lithium X owns 50%, and has the option to acquire
up to 80%, of the Sal de los Angeles lithium brine project.
Lithium X's Arizaro project consists of 33,846 hectares
located in one of the world's largest salars thought to contain
elevated lithium brine values. Lithium X is also exploring a large
land package in Nevada's
Clayton Valley, contiguous to the
only producing lithium operation in North
America – Silver Peak, owned and operated by Albemarle, the
world's largest lithium producer. Lithium X is listed on the TSXV
under the trading symbol LIX.
For additional information about Lithium X Energy Corp., please
visit the Company's website at www.lithium-x.com or review the
Company's documents filed on www.sedar.com. Join the
Company's email list at http://lithium-x.com/subscribe.
ON BEHALF OF THE BOARD OF DIRECTORS
"Paul Matysek"
Paul
Matysek
Executive Chairman
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
References to "production" or "pilot production" herein should
not be construed to imply that the Company's Sal de Los Angeles
Project is in commercial production or that it contains mineral
reserves. Further technical studies will be required to assess the
project's viability. There is no certainty that a potential mine
will be realized or that a production decision will be made.
This news release contains certain forward-looking information
and forward-looking statements within the meaning of applicable
securities legislation (collectively "forward-looking statements").
Certain information contained herein constitutes "forward-looking
information" under Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "expects", "believes", "aims
to", "plans to" or "intends to" or variations of such words and
phrases or statements that certain actions, events or results
"will" occur. Forward-looking statements are based on the opinions
and estimates of management as of the date such statements are made
and they are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed by such forward-looking statements
or forward-looking information, including the business of the
Company and the commencement of trading in the Company's shares.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and forward
looking information. The Company does not undertake to update any
forward-looking statements or forward-looking information that are
incorporated by reference herein, except as required by applicable
securities laws.
SOURCE Lithium X Energy Corp.