Lithium Power International Ltd.: Activity Report for the Quarter ended June 2022
SYDNEY, Aug. 02, 2022 - Lithium Power International Ltd. (LPI:AX) ("LPI" or "the Company") is pleased to provide shareholders with an overview of quarterly activities for the period ending 30 June 2022 ("Quarter", "Reporting Period"), including subsequent events that might have a significant impact between 30 June 2022 and the date of issuance of this Report. | HIGHLIGHTS |
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1 Based on diluted proforma ownership of LPI assuming LPI 1M VWAP share price as at market close on 21 June 2022 from IRESS.
2 Refer footnote 1 above.
Lithium Power's Chairman, David Hannon, commented:
"The June 2022 quarter marked a significant period for the Company, with LPI entering agreements to consolidate 100% ownership of Maricunga Lithium Brine Project in Chile by way of a three-party all-scrip merger with its JV Partners. By holding 100% of the Project, LPI will be able to rapidly advance this significant asset by simplifying decision making, unlocking funding pathways and creating further shareholder value as we capitalise on the rapid global shift towards the electrification of transport and infrastructure.
Importantly, during the reporting period, LPI also significantly increased its tenement holding in Western Australia, with the largest ground coverage in the Greenbushes Region through the acquisition of CMC Lithium and it's Greenbushes Project. We also acquired two new tenements in the mineral rich Eastern Goldfields of WA. With plans to demerge the company's West Australian lithium assets, these acquisitions further bolster the portfolio of Western Lithium Limited, which we plan to list on the ASX later this year.
I would like to thank shareholders for their ongoing support as we look forward to an exciting 2023 Financial Year."
To read the company's full ASX release with the results of its Activity Report for the Quarter ended June 2022, please click here.
For further information, please contact:
Cristobal Garcia-Huidobro, CEO or Andrew Phillips - CFO Lithium Power International
Ph: +612 9276 1245
E: info@lithiumpowerinternational.com
www.lithiumpowerinternational.com
@LithiumPowerLPI
Jane Morgan - Investor and Media Relations
Ph: + 61 (0) 405 555 618
E: jm@janemorganmanagement.com.au
For U.S. and other international investor relations enquiries:
Arrowhead Business and Investment Decisions, LLC Thomas Renaud | Managing Director
42 Broadway, 17th Floor, New York, NY 10004 Ph: +1 212 619 6889
E: enquire@arrowheadbid.com