On March 21, 2023, Lithium Energi Exploration Inc. (TSXV:LEXI) completed various recapitalization transactions, including entering into a new $15 million senior secured credit facility with Arena Investors, LP, including an initial drawdown of $7 million, to fund further exploration work and for general corporate purposes, and the settlement of approximately $11 million in indebtedness owed to various arm’s lengthy and related parties through the issuance of common shares and warrants, and a private placement of $500,000 in equity so as to fully satisfy and retire historical company indebtedness.
LEXI is an exploration company focused on acquisition, exploration, and development of lithium brine assets in Argentina. Headquartered in Toronto, Ontario with offices Catamarca, Argentina, LEXI’s shares are listed on the TSX Venture Exchange under the symbol “LEXI”. LEXI’s portfolio of prospective lithium brine concessions in the Argentina Province of Catamarca (heart of the lithium triangle) includes approximately 57,000 hectares and a 20% interest in Triangle Lithium Argentina, S.A., which owns an additional 15,000 hectares – all located in and around the Antofalla Salar, one of the largest basins in the region, which is over 130 km long and up to 20 km across.
Farris LLP represented LEXI with a team led by Daniel Everall (Securities/Mining).