Lithium South Announces Pay Out of Common Shares and Closing of Plan of Arrangement
Rhea-AI Summary
Lithium South (OTCQB:LISMF) set May 15, 2026 as the effective date for a cash payout of CAD$0.505 per common share, funded by Posco Argentina S.A.U., under its Plan of Arrangement, subject to final TSXV approval.
The company also plans to delist from TSXV and OTCQB and apply to cease being a reporting issuer.
Positive
- Cash payout of CAD$0.505 per common share set for May 15, 2026
- Funds for payout received from Posco Argentina S.A.U.
- Plan of Arrangement targeted for completion on May 15, 2026, pending TSXV approval
Negative
- Company applying to delist shares from TSXV Venture Exchange
- Concurrent delisting planned from OTCQB market
- Intends to cease being a reporting issuer, reducing public market liquidity
- Completion of Plan of Arrangement remains subject to final TSXV approval
News Market Reaction – LISMF
In the May 11 session, LISMF gained 3.11%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / May 11, 2026 / Lithium South Development Corporation (the "Company" or "Lithium South") (TSX-V:LIS)(OTCQB:LISMF)(Frankfurt:OGPQ) is pleased to announce that funds have been received from Posco Argentina S.A.U. and the effective date of May 15, 2026 has been set for the cash payout of CAD
Registered Shareholders are the only shareholders required to complete and return a letter of transmittal (the "Letter of Transmittal") to the Company's transfer agent, Computershare Investor Services Inc., in order to receive the cash consideration for their common shares pursuant to the Plan of Arrangement. The Letter of Transmittal may be found at the Company website: www.lithiumsouth.com/investors/
All other shareholders will receive the cash consideration through the intermediary with which their shares are held (brokerage or bank).
In addition, the Company has applied to the Exchange to delist its common shares from trading and immediately prior to receiving the Exchange bulletin, the Company will arrange to concurrently delist from the OTCQB market and will make an application to cease being a reporting issuer. Dates will be finalized shortly.
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.
Disclaimer for Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws ("forward-looking statements"). Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "plans," "postulate," and similar expressions, or are those which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements, including, but not limited to, statements regarding management's beliefs, plans, estimates, and intentions; the Going Private Arrangement and the ability to complete it and other transactions contemplated thereunder; the timing and satisfaction of conditions to consummation of the foregoing; the receipt of required regulatory approvals. These forward-looking statements are made as of the date of this press release and, although the Company believes such statements are reasonable, there can be no assurance that expectations and assumptions will prove to be correct. Forward-looking statements are not guarantees of future results or performance and are subject to risks, uncertainties, assumptions, and other factors that could cause actual results or outcomes to differ materially from those expressed or implied, including, but not limited to: the possibility that the Going Private Arrangement will not be completed on the terms or timing currently contemplated, or at all; failure to obtain or satisfy required regulatory, securityholder, or court approvals and other closing conditions; the negative impact of a failed transaction on the price of the Company's shares or business; failure to realize expected benefits of the transactions; restrictions imposed on the Company while the transactions are pending; significant transaction costs or unknown liabilities; diversion of management's attention from ongoing business operations; and other risks and uncertainties affecting the Company, including those relating to permitting, capital expenditures, exploration and development activity, and the future price and demand for lithium. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. The securities referred to in this press release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. Further information concerning risks, assumptions, and uncertainties associated with forward-looking statements and the Company's business can be found in the Company's Management Discussion & Analysis for the nine months ended September 30, 2025, and in subsequent filings available under the Company's profile on SEDAR+ (www.sedarplus.ca).
SOURCE: Lithium South Development Corp.
View the original press release on ACCESS Newswire