Lithium Chile Inc. (TSX.V: LITH) (OTC: LTMCF) this morning announced its successful completion of the previously announced “spin out” transaction of its Kairos Metals Corp. subsidiary into a standalone company owning the copper/gold/silver property portfolio previously held by Lithium Chile. “We are pleased with the closing of this transaction,” Steve Cochrane, president and CEO of Lithium Chile, stated in the news release. “It creates two distinct resource companies that can now focus their energies and resources on developing their respective assets for the benefit of Lithium Chile shareholders.” Per the update, shareholders of Lithium Chile each received one common share of Kairos Metals for each four common shares of Lithium Chile held as of May 7, 2018. The “spin out” arrangement remains subject to the final approval of the TSX Venture Exchange.
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About Lithium Chile
Lithium Chile Inc. is advancing a lithium property portfolio consisting of 148,500 hectares covering sections of 13 salars and one laguna complex in Chile. The properties include 64 square kilometers on the Salar de Atacama, which hosts the world’s highest concentration lithium brine production and is currently the source of about 30 percent of the world’s lithium production. Lithium Chile Shares are listed on the TSX-V under the symbol “LITH”. For more information, visit the company’s website at www.LithiumChile.ca
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