Argentina Lithium Plans Up to C$4.3 Million Brokered Private Placement for Rincon West Project

Argentina Lithium & Energy ( (TSE:LIT) ) has provided an announcement.

Argentina Lithium & Energy Corp. has arranged a brokered “best efforts” private placement with Red Cloud Securities to raise up to C$4.3 million through the sale of up to 26.06 million units at C$0.165 per unit, each unit comprising one common share and a warrant exercisable at C$0.225 for 36 months. The financing, which may be increased by an additional C$500,000 via an agents’ option, will fund exploration and advancement of the company’s Rincon West lithium project in Argentina and general corporate purposes, with units offered under Canada’s listed issuer financing exemption and by private placement in the U.S. and other jurisdictions, subject to regulatory and stock exchange approvals.

The most recent analyst rating on (TSE:LIT) stock is a Hold with a C$0.21 price target. To see the full list of analyst forecasts on Argentina Lithium & Energy stock, see the TSE:LIT Stock Forecast page.

Spark’s Take on TSE:LIT Stock

According to Spark, TipRanks’ AI Analyst, TSE:LIT is a Neutral.

The score is held down primarily by weak financial performance (pre-revenue status, ongoing losses, and continued cash burn despite improvement) and limited valuation support (negative P/E, no dividend data). Technicals are a partial offset with a clear uptrend and positive MACD, but overextended RSI/Stoch signals increase near-term pullback risk.

To see Spark’s full report on TSE:LIT stock, click here.

More about Argentina Lithium & Energy

Argentina Lithium & Energy Corp. is a Canada-listed exploration company focused on lithium projects in Argentina, aiming to advance assets within the country’s lithium-rich salars to serve the growing global battery and electric vehicle markets.

Average Trading Volume: 156,059

Technical Sentiment Signal: Buy

Current Market Cap: C$26.83M

For an in-depth examination of LIT stock, go to TipRanks’ Overview page.