LSC Lithium Announces Results of Special Meeting of Securityholders
March 08 2019 - 4:00PM
LSC Lithium Corporation (“
LSC” or
together with its subsidiaries, the “
Company”)
(TSXV:LSC) is pleased to announce the results of the special
meeting of Securityholders (the “
Meeting”) held
today to approve the previously announced plan of arrangement (the
“
Arrangement”) pursuant to which Pluspetrol
Resources Corporation B.V., among other things, will acquire all of
the issued and outstanding shares of LSC for cash consideration of
$0.6612 per common share of LSC.
The special resolution approving the Arrangement
was approved by: (i) 99.91% of votes cast by LSC shareholders
present at the Meeting in person or by proxy; (ii) 99.93% of votes
cast by LSC shareholders, optionholders and warrantholders voting
together as a single class present at the Meeting in person or by
proxy, and (iii) a majority of votes cast by shareholders other
than shares required to be excluded pursuant to Multilateral
Instrument 61-101 – Protection of Minority Security Holders in
Special Transactions.
The Company expects to apply for a final order
of the Supreme Court of British Columbia for approval of the
Arrangement on March 13, 2019. Assuming the satisfaction or waiver
of the other customary closing conditions, the Arrangement is
expected to close on or about March 15, 2019.
ABOUT LSC LITHIUM
CORPORATION
LSC Lithium has amassed a large portfolio of
prospective lithium rich salars and is focused on developing its
material projects: Pozuelos and Pastos Grandes Project, Rio Grande
Project and Salinas Grandes Project. All LSC tenements are located
in the “Lithium Triangle,” an area at the intersection of
Argentina, Bolivia, and Chile where the world’s most abundant
lithium brine deposits are found. LSC Lithium has a land package
portfolio totaling approximately 300,000 hectares, which represents
extensive lithium prospective salar holdings in Argentina.
For further information please
contact: LSC Lithium Corporation Ian StalkerPresident
& Chief Executive Officer40 University Avenue, Suite 605,
TorontoON Canada M5J 1T1+416 306 8380Email:
info@lsclithium.comWeb: lsclithium.com
Forward-Looking Statements
Certain statements contained in this news
release constitute forward-looking information. These statements
relate to future events or future performance, including statements
as to the likelihood and timing of completing the Arrangement and
the ability to receive regulatory, court and other required
approvals of the Arrangement. The use of any of the words “could”,
“anticipate”, “intend”, “expect”, “believe”, “will”, “projected”,
“estimated” and similar expressions and statements relating to
matters that are not historical facts are intended to identify
forward-looking information and are based on LSC's current belief
or assumptions as to the outcome and timing of such future events.
Whether actual results and developments will conform with LSC's
expectations is subject to a number of risks and uncertainties
including factors underlying management's assumptions, such as
risks related to: title, permitting and regulatory risks;
exploration and the establishment of any resources or reserves on
the LSC properties; volatility in lithium prices and the market for
lithium; exchange rate fluctuations; volatility in LSC’s share
price; the requirement for significant additional funds for
development that may not be available; changes in national and
local government legislation, including permitting and licensing
regimes and taxation policies and the enforcement thereof;
regulatory, political or economic developments in Argentina or
elsewhere; litigation; title, permit or license disputes related to
interests on any of the properties in which the Company holds an
interest; excessive cost escalation as well as development,
permitting, infrastructure, operating or technical difficulties on
any of the Company's properties; risks and hazards associated with
the business of development and mining on any of the Company's
properties. Actual future results may differ materially. The
forward-looking information contained in this release is made as of
the date hereof and LSC is not obligated to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained herein.
For more information, see the Company's filing statement on SEDAR
at www.sedar.com.
Neither the TSX Venture Exchange Inc. 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 release.
The TSX Venture Exchange Inc. has neither
approved nor disapproved the contents of this press release.
Lsc Lithium Corporation (TSXV:LSC)
Historical Stock Chart
From May 2024 to Jun 2024
Lsc Lithium Corporation (TSXV:LSC)
Historical Stock Chart
From Jun 2023 to Jun 2024