Lithium South Gets Green Light from POSCO
Lithium South (OTCQB:LISMF) said POSCO Argentina approved and allocated funds to acquire its Hombre Muerto North lithium project via purchase of NRG Metals Argentina.
The parties agreed a final acquisition price of US$65 million, adjusted for tax burdens, closing costs and property payments, and are working to finalize the Share Purchase Agreement with a formal signing anticipated in the immediate future.
The company scheduled an Annual General and Special Meeting for January 9, 2026 to seek shareholder approval for the sale of NRG Metals and a repurchase of all issued securities; the deal remains subject to regulatory and TSX Venture Exchange approval.
Lithium South (OTCQB:LISMF) ha detto che POSCO Argentina ha approvato e allocato fondi per acquisire il suo progetto di litio Hombre Muerto North tramite l'acquisto di NRG Metals Argentina.
Le parti hanno concordato un prezzo di acquisto finale di US$65 milioni, adeguato alle imposte, ai costi di chiusura e ai pagamenti della proprietà, e stanno lavorando per finalizzare l'Share Purchase Agreement con una firma formale prevista nel prossimo futuro.
L'azienda ha convocato un'Assemblea Generale Annuale e Speciale per 9 gennaio 2026 per ottenere l'approvazione degli azionisti per la vendita di NRG Metals e il riacquisto di tutte le azioni emesse; l'accordo resta soggetto all'approvazione regolamentare e della TSX Venture Exchange.
Lithium South (OTCQB:LISMF) dijo que POSCO Argentina aprobó y asignó fondos para adquirir su proyecto de litio Hombre Muerto North a través de la compra de NRG Metals Argentina.
Las partes acordaron un precio de adquisición final de US$65 millones, ajustado por cargas fiscales, costos de cierre y pagos de propiedades, y están trabajando para finalizar el Acuerdo de Compra de Acciones con una firma formal prevista en un futuro inmediato.
La empresa programó una Reunión General Anual y Especial para el 9 de enero de 2026 para buscar la aprobación de los accionistas para la venta de NRG Metals y una recompra de todas las valores emitidos; el acuerdo sigue sujeto a la aprobación regulatoria y de TSX Venture Exchange.
Lithium South (OTCQB:LISMF)는 POSCO Argentina가 NRG Metals Argentina의 구매를 통해 Hombre Muerto North 리튬 프로젝트를 인수하도록 자금을 승인하고 배정했다고 밝혔다.
당사자들은 최종 인수 가격을 미화 6500만 달러US$65 million로 합의했으며, 세금 부담, 종료 비용 및 재산 지급을 조정하고 즉시 가까운 시일 내에 서명될 주식 매매 계약(SPA)을 최종화하기 위해 작업 중이다.
회사는 2026년 1월 9일에 연례 일반 및 특별 주주총회를 예정하여 NRG Metals의 매각에 대한 주주 승인과 모든 발행 주식의 재매입을 요청할 예정이다; 거래는 규제 및 TSX Venture Exchange의 승인을 조건으로 남아 있다.
Lithium South (OTCQB:LISMF) a déclaré que POSCO Argentina a approuvé et alloué des fonds pour acquérir son projet de lithium Hombre Muerto North via l'achat de NRG Metals Argentina.
Les parties ont convenu d'un prix d'acquisition final de US$65 millions, ajusté des charges fiscales, des frais de clôture et des paiements de propriété, et travaillent à la finalisation du Share Purchase Agreement avec une signature formelle prévue dans un avenir immédiat.
L'entreprise a prévu une Assemblée Générale Annuelle et Extraordinaire pour le 9 janvier 2026 afin d'obtenir l'approbation des actionnaires pour la vente de NRG Metals et le rachat de toutes les valeurs émises; l'accord reste soumis à l'approbation réglementaire et de la TSX Venture Exchange.
Lithium South (OTCQB:LISMF) sagte, POSCO Argentina habe zugestimmt und Mittel freigegeben, um ihr Hombre Muerto North-Lithiumprojekt durch den Erwerb von NRG Metals Argentina zu erwerben.
Die Parteien vereinbarten einen endgültigen Kaufpreis von US$65 Millionen, angepasst an Steuerbelastungen, Closing-Kosten und Grundstückszahlungen, und arbeiten daran, das Share Purchase Agreement mit einer formellen Unterzeichnung in naher Zukunft abzuschließen.
Das Unternehmen hat eine Allgemeine Hauptversammlung und eine außerordentliche Sitzung für den 9. Januar 2026 anberaumt, um die Zustimmung der Aktionäre zum Verkauf von NRG Metals und zum Rückkauf aller ausgegebenen Wertpapiere zu erhalten; der Deal steht weiterhin unter regulatorischer und TSX Venture Exchange-Genehmigung.
Lithium South (OTCQB:LISMF) قالت POSCO Argentina إنها وافقت وخصّصت أموالاً لاستحواذها على مشروع الليثيوم Hombre Muerto North عبر شراء NRG Metals Argentina.
اتفقت الأطراف على سعر استحواذ نهائي قدره US$65 مليون، مع تعديل على أساس الأعباء الضريبية وتكاليف الإغلاق ومدفوعات الملكية، وهي تعمل على إنهاء اتفاقية شراء الأسهم مع توقيع رسمي متوقع في المستقبل القريب.
حددت الشركة اجتماع الجمعية العامة السنوي والاستثنائي في 9 يناير 2026 لطلب موافقة المساهمين على بيع NRG Metals وإعادة شراء جميع الأوراق المالية المُصدرة؛ الصفقة لا تزال خاضعة للموافقة التنظيمية وموافقة TSX Venture Exchange.
- POSCO Argentina approved acquisition and allocated funds
- Agreed final acquisition price of US$65 million
- Formal signing of the SPA anticipated in the immediate future
- AGSM scheduled for January 9, 2026 to seek shareholder approval
- Transaction remains subject to regulatory and TSX Venture Exchange approval
- Final price adjusted downward for tax burdens, closing costs and payments
Lithium South POSCO Transaction
VANCOUVER, BC / ACCESS Newswire / November 12, 2025 / Lithium South Development Corporation (the "Company" or "Lithium South") (TSX-V:LIS)(OTCQB:LISMF)(Frankfurt:OGPQ) is pleased to announce that it has been advised by POSCO Argentina S.A.U. that the proposed acquisition of the Hombre Muerto North Lithium (HMN Li Project) Project via the purchase of NRG Metals Argentina S.A. (the wholly owned subsidiary of Lithium South) has been fully approved and the investment has been scheduled. Funds have been allocated to POSCO Argentina S.A.U. for completion of the transaction.
The two companies are currently working for the completion of the Share Purchase Agreement ("S.P.A.") as announced July 30, 2025, August 7, 2025, and September 22, 2025. The final acquisition price has been agreed and adjusted to US
In light of clearance of the investment decision by POSCO, the Company is scheduling an Annual General and Special Meeting date of January 9, 2026. The purpose of the meeting is to obtain shareholder approval for the sale of NRG Metals S.A. (the owner of the HMN Li Project), the repurchase of all of the issued and outstanding securities of the Company as well as other business matters. The transaction is subject to regulatory approval and the approval of the TSX Venture Exchange. Further details will be announced once the S.P.A. has been signed.
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 POSCO approve regarding Lithium South (LISMF) on November 12, 2025?
How much is POSCO paying for Lithium South's HMN Li Project (LISMF)?
When is Lithium South's shareholder meeting for the POSCO sale (LISMF)?
Is the POSCO acquisition of Lithium South (LISMF) completed?
What shareholder actions will be proposed at the January 9, 2026 meeting for LISMF?
