Early Completion of Sale of Solaroz Project
| Stock | Lithium Energy Ltd (LEL.ASX) |
|---|---|
| Release Time | 15 Dec 2025, 2:16 p.m. |
| Price Sensitive | Yes |
Early Completion of Sale of Solaroz Project
- Lithium Energy receives US$21.7 million (~A$33 million) on early completion of Tranche 2 sale of Solaroz Lithium Brine Project in Argentina
- CNNET has also transferred US$3 million to a joint escrow account as security for Lithium Energy's performance
- Deferred Consideration of US$4.5 million (~A$6.9 million) payable if Benchmark Lithium Carbonate Price exceeds US$23,000/tonne
Lithium Energy Limited (ASX:LEL) has received US$21.7 million (~A$33 million) on the early completion of the sale of the balance (Tranche 2) of its interest in the Solaroz Lithium Brine Project in Argentina to CNGR Netherlands New Energy Technology B.V. (CNNET). The Company had previously received US$33.8 million (~A$52 million) in April 2025 on completion of the sale of Tranche 1. CNNET has also transferred US$3 million to a JP Morgan (Hong Kong) joint escrow account held for the benefit of both Lithium Energy and CNNET, to serve as security for the Company's performance under the sale agreement. A Deferred Consideration of US$4.5 million (~A$6.9 million) is payable by CNNET if the Benchmark Lithium Carbonate Price exceeds US$23,000/tonne averaged over any 4-month period between 29 April 2025 and 15 December 2026.