VANCOUVER, Nov. 8, 2017 /CNW/ - Lithium X Energy
Corp. ("Lithium X" or the "Company") (TSXV: LIX) (OTCQX:
LIXXF) is pleased to announce that it has closed its previously
announced agreements with Borax Argentina S.A. ("Borax") and South
American Salars S.A.("SAS") and their parent company, Orocobre
Limited ("Orocobre"), collectively (the "Orocobre Agreements").
(Refer to news release of October 4,
2017.)
The Orocobre Agreements involved the acquisition of 2,700
hectares of claims from Borax Argentina S.A. ("Borax") replacing
the usufruct Lithium rights previously held by the Company over the
Borax claims and an agreement to acquire a further 700 hectares
currently owned by South American Salars S.A. ("SAS") for a total
consideration of 650,000 common shares of Lithium X (the "Lithium X
Shares"), USD $1,000,000 and a 1% Net
Revenue Royalty (NRR) over the SDLA project. The Lithium X
Shares are subject to a 4-month hold period expiring on
March 8, 2018 under applicable
securities laws.
ABOUT LITHIUM X ENERGY CORP.
Lithium X is a lithium
exploration and development company with a goal of becoming a
low-cost supplier for the burgeoning lithium battery industry. The
Company holds two projects in the prolific "Lithium Triangle" in
mining friendly Salta province, Argentina as well as participating in the
Clayton Valley in Nevada through
its ownership interest in Pure Energy Minerals Limited.
For additional information about Lithium X, please visit the
Company's website at www.lithium-x.com or review the Company's
documents filed on SEDAR at www.sedar.com. Join the Company's email
list at http://lithium-x.com/subscribe.
ON BEHALF OF THE BOARD OF DIRECTORS
LITHIUM X ENERGY CORP.
"Paul Matysek"
Paul Matysek
Executive Chairman
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 news release.
This news release contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation (collectively "forward-looking
statements"). Certain information contained herein including the
use of proceeds constitutes "forward-looking information" under
Canadian securities legislation. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as "expects", "believes", "aims to", "plans to" or
"intends to" or variations of such words and phrases or statements
that certain actions, events or results "will" occur.
Forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made and they are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company to be materially different from
those expressed by such forward-looking statements or
forward-looking information, including the business of the Company,
the speculative nature of mineral exploration and development,
fluctuating commodity prices, competitive risks, and delay,
inability to complete a financing or failure to receive regulatory
approvals. Although management of the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements and forward looking information. The Company does not
undertake to update any forward-looking statements or
forward-looking information that are incorporated by reference
herein, except as required by applicable securities laws.
SOURCE Lithium X Energy Corp.