TORONTO, ONTARIO–(Marketwired – June 29, 2017) – ABERDEEN INTERNATIONAL INC. (“Aberdeen” or the “Company”) (TSX:AAB) has agreed to sell to Lithium X Energy Corp. its remaining shareholdings of Potassio y Litio de Argentina S.A. In consideration for acquiring the 50% of PLASA held by Aberdeen, Lithium X will make a cash payment of $5,000,000 and issue 6,000,000 Lithium X common shares. The Lithium X common shares will be subject to the standard statutory hold period of four months, with 3,000,000 of such shares subject to trade restrictions for a further six months.
As additional consideration, Lithium X will issue to Aberdeen an additional 3,000,000 common shares if, during the three years following closing, the volume weighted average trading price of Lithium X common shares is $3.00 or more for a period of 20 consecutive trading days.
Closing of the PLASA share sale transaction is subject to standard closing conditions.
ABOUT ABERDEEN INTERNATIONAL INC.
Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the mining and metals sector.
For additional information, including to obtain a copy of Aberdeen’s related early warning report, please visit our website at www.aberdeeninternational.ca, follow us on Facebook, Twitter and LinkedIn.
Cautionary Notes
This press release contains “forward looking information” within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company, ability to close the proposed disposition, Aberdeen’s possible future trading and intentions, valuations of investments (including LIX shares), proposed transactions and investments, investment philosophy and liabilities and commitments. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is 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 or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; and other general risks of the mining and investment industries. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE
Stan Bharti
Interim President and Chief Executive Officer
+1 416-861-2267
[email protected]
