Lithium South Announces Extension to POSCO Argentina S.A.U. Share Purchase Agreement
Rhea-AI Summary
Lithium South (OTCQB:LISMF) announced an extension to the Share Purchase Agreement with POSCO Argentina S.A.U. to sell NRG Metals Argentina S.A., the Company's wholly owned subsidiary and 100% holder of the Hombre Muerto North lithium project and related Sophia and Hydra claims, for US$65 million.
The parties agreed to extend the deadline to complete and formalize the SPA to on or before December 5, 2025 due to recent air travel disruptions and scheduled statutory holidays in Argentina and the United States.
Positive
- Transaction value of US$65 million
- 100% interest in Hombre Muerto North included in sale
- Buyer identified as POSCO Argentina S.A.U.
Negative
- Closing date extended to on or before December 5, 2025
- Delay attributed to air travel disruptions and statutory holidays
News Market Reaction
On the day this news was published, LISMF declined 1.96%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / November 20, 2025 / Lithium South Development Corporation (the "Company" or "Lithium South") (TSX-V:LIS)(OTCQB:LISMF)(Frankfurt:OGPQ) is pleased to provide an update to the Share Purchase Agreement ("SPA") with POSCO Argentina S.A.U. as previously announced July 30, 2025, August 7, 2025, and November 12, 2025.
The SPA establishes the terms for the sale of NRG Metals Argentina S.A., the wholly owned subsidiary of the Company and
The parties have agreed to extend the date to on or before December 5, 2025, to complete and formalize the SPA as a result of recent air travel disruptions and scheduled statutory holidays in Argentina and the United States which have necessitated this change of schedule.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com
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 release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.
SOURCE: Lithium South Development Corp.
View the original press release on ACCESS Newswire
FAQ
What did Lithium South (LISMF) announce on November 20, 2025?
What assets are included in the POSCO Argentina SPA for LISMF?
Why was the LISMF POSCO SPA closing date extended to December 5, 2025?
How long is the new deadline to formalize the SPA between LISMF and POSCO Argentina?
How will the US$65 million SPA affect LISMF shareholders?
Who should investors contact for more information about LISMF's SPA update?
