TSX Venture Exchange: LITH
OTC-QB: LTMCF
CALGARY, Jan. 8, 2019 /CNW/ - Lithium Chile Inc.
("Lithium Chile" or the
"Company") is pleased to announce that it has appointed
South American lithium expert, Jose de Castro Alem, to the Board of
Directors and as Manager of Lithium Operations. Mr. de Castro is a
recognized pioneer in lithium brine exploration, development and
production in South America. He
brings over 20 years of lithium brine experience, as well as a
significant track record in the lithium triangle, to the Company's
management team. Jose de Castro Alem's appointment is subject to
regulatory approval.
Career Highlights
Orocobre Limited ("Orocobre") - 2010-2015: Mr. de Castro
was instrumental in Orocobre's growth from a sub-$10 million market cap to over $1 billion market cap. During this time, he was
responsible for everything from salar exploration to development of
evaporation ponds and design/development of the initial plant. Mr.
de Castro oversaw the $300
million-dollar lithium carbonate plant from definitive
Feasibility Study until complete commercial operation. Mr. de
Castro was also extensively involved with building relationships
with local communities through to the senior levels of government.
He was also involved in the successful joint venture between
Orocobre and Japan based Toyota
Tsusho Group.
NRG Metals Inc. - 2016-2018: Mr. de Castro was Vice
President Operations for NRG Metals Inc. and played a key role in
NRG Metals' initial 43-101 lithium carbonate resource report.
FMC Corporation ("FMC") - 1997-2003: During his years
with FMC, Mr. de Castro was responsible for the lithium operations
and production from the solar evaporation ponds, and lithium
carbonate production from the processing plant.
Jose de Castro is a graduate of
the National University of Salta,
Argentina, with a degree in
Chemical Engineering.
Steve Cochrane President and CEO
of Lithium Chile, commented, "Jose de
Castro is one of the leading lights in the South American
lithium space and we are delighted that he has agreed to join us as
both Manager of lithium operations and Board Director. Lithium
Chile has an exceptional technical
team and one of the largest lithium portfolios in Chile. With the additional expertise that Jose
brings to the Company, we are looking forward to a very active and
productive year ahead."
Jose de Castro Alem Manager of Lithium Operations commented,
"I am very pleased to join Lithium Chile because of their
outstanding portfolio of lithium prospects, their exceptional
exploration team, and the new possibilities in Chile. Northern
Chile is one of the most mining friendly jurisdictions in
the world, with clear rules and great infrastructure. I look
forward to working with Lithium Chile's management team in
advancing their projects quickly and efficiently."
The Company also announces the granting of stock options to
purchase a total of 700,000 common shares of the Company, an option
to purchase 400,000 common shares to Mr. de Castro and an option to
purchase 300,000 common shares to a consultant, subject to
regulatory approval. The options were issued with an exercise price
of $0.52 per share, vest as to one
half (1/2) immediately and the remaining one half (1/2) on the
first anniversary of the grant date and expire five years from the
grant date.
About Lithium Chile
Lithium Chile is advancing a
lithium property portfolio consisting of 159,950 hectares covering
sections of 14 salars and 1 laguna complex in Chile.
Lithium Chile's common shares
are listed on the TSX-V under the symbol "LITH" and on the
OTC-QB under the symbol "LTMCF".
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.
Forward Looking Statements
This news release may
contain certain forward-looking information and statements,
including without limitation obtaining regulatory approval for the
appointment of Jose de Castro Alem and the granting of the stock
options. All statements included herein, other than
statements of historical fact, are forward-looking information and
such information involves various risks and uncertainties.
There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking
statements. A description of assumptions used to develop such
forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking
information can be found in Lithium Chile's disclosure documents on
the SEDAR website at www.sedar.com. Lithium Chile does not
undertake to update any forward-looking information except in
accordance with applicable securities laws.
SOURCE Lithium Chile Inc.
