Property
Payment Completed on
3287
Hectare Hombre Muerto
North
Lithium Project
New OTCQB
Symbol LISMF
Vancouver,
BC, Canada -- March 25, 2021 -- InvestorsHub NewsWire -- Lithium
South Development Corporation (the "Company") (TSX-V:
LIS) (OTCQB: LISMF) (Frankfurt
OGPQ) announces that it has
completed the second to last property payment for the acquisition
of the 3,287-hectare Hombre Muerto North Lithium Project located
in Salta Province, Argentina. The company issued 2,250,000
common shares and made a payment of
US$1,000,000 to Jorge E. Moreno and Alba Silvia Sala (the
"Vendors") pursuant to a mining exploration agreement with option
to purchase dated May 17, 2017, as amended on October 31, 2017 and
April 22, 2018, entered into
with the Vendors
regarding the Hombre Muerto North Lithium
project.
Company President
Adrian F.C. Hobkirk is quoted, "we are pleased to have
completed this important milestone for the acquisition of this
advanced lithium asset. We look forward to working
with the vendor and the mining jurisdiction of Salta Province to
further develop Direct Lithium Extraction at the
project."
The Hombre
Muerto
salar
has three lithium
projects under development including the
companies, and projects by
POSCO and Galaxy
Resources.
The Company also
announces it has changed its US ticker symbol to "LISMF" on the
OTCQB, effective March 18, 2021.
About
Lithium South
Lithium South is
focused on developing the Hombre Muerto North Lithium Project (HMN Li
Project), located on the Hombre Muerto Salar, the premier
lithium-producing salar in Argentina. The project is
adjacent to land under development by the Korean multinational
corporation POSCO, which acquired the ground from Galaxy Resources
Ltd. for U.S. $ 280 million. The Company completed a Preliminary
Economic Assessment of the HMN Li Project in 2019, utilizing
conventional evaporation extraction. The Company is focused
on evaluating alternative
extraction methods for the HMN Li Project and plans to become a
leader in the application of Direct Lithium Extraction technology
at the project level.
Investors /
Shareholders:
Email:
info@lithiumsouth.com
Toll Free: 855-415-8100
Website:
www.lithiumsouth.com
On behalf
of the board of directors of Lithium
South Development Corporation
Adrian F. C.
Hobkirk
President and
Chief Executive Officer
Direct
line: 954-684-8040
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that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. The TSX Venture Exchange has not reviewed the content of
this news release and therefore does not accept responsibility or
liability for the adequacy or accuracy of the contents of this news
release.
The
securities referred to in this news release have not been, nor will
they be, registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration
requirements.
This news
release does not constitute an offer for sale of securities for
sale, nor a solicitation for offers to buy any securities.
Any public offering of securities in the United States must be made
by means of a prospectus containing detailed information about the
company and management, as well as financial
statements.