Lithium X $LIX Closes the Orocobre Agreement

Lithium X


Lithium X Energy Corp. is pleased to announce that it has closed its previously announced agreements with Borax Argentina S.A. and South American Salars S.A. and their parent company, Orocobre Limited, collectively.

The Orocobre Agreements involved the acquisition of 2,700 hectares of claims from Borax Argentina S.A. 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. for a total consideration of 650,000 common shares of Lithium X , USD $1,000,000 and a 1% Net Revenue Royalty 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.