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Lithium Energi Exploration ( (TSE:LEXI) ) has provided an announcement.
Lithium Energi Exploration Inc. announced that Arena Investors LP is proceeding with enforcement action to take all issued and outstanding shares in Lithium Energi Argentina S.A. as satisfaction for a $7 million debt. This action follows a notice of default and inability to secure alternative financing, leading to the cessation of LEXI’s active business operations and its expected transfer to the NEX board of the TSX Venture Exchange.
Spark’s Take on TSE:LEXI Stock
According to Spark, TipRanks’ AI Analyst, TSE:LEXI is a Underperform.
Lithium Energi Exploration’s stock is significantly hampered by financial instability with zero revenue and persistent losses. Despite some recent improvements in balance sheet and cash flow, the bearish technical indicators and poor valuation metrics underscore a challenging outlook.
To see Spark’s full report on TSE:LEXI stock, click here.
More about Lithium Energi Exploration
Lithium Energi Exploration, Inc. is an exploration company focused on the acquisition, exploration, and development of lithium brine assets in Argentina. Headquartered in Toronto, Ontario, with offices in Catamarca, Argentina, the company is listed on the TSX Venture Exchange, the Frankfurt Exchange, and the U.S. OTC markets. LEXI holds a portfolio of lithium brine concessions in the Argentina Province of Catamarca, including a 20% interest in Triangle Lithium Argentina, S.A.
Average Trading Volume: 78,117
Technical Sentiment Signal: Sell
Current Market Cap: C$3.61M
Learn more about LEXI stock on TipRanks’ Stock Analysis page.