BUENOS AIRES, ARGENTINA / ACCESSWIRE / July 11, 2024 / NOA Lithium Brines Inc. (TSX-V:NOAL)(FSE:N7N) ("NOA" or the "Company") announces that further to its November 1, 2023, November 3, 2023 and April 1, 2024 Press Releases disclosing certain warrant exercises, the Company is pleased to announce that senior management and certain directors, and founding shareholders of the Company that hold common share purchase warrants exercisable at $0.20 per common share of the Company (the "Warrants") have exercised 5,392,750 Warrants to provide the Company with $1,078,550 in cash, and this cash has been and is being used to continue the progress and development of the Company and for general corporate working capital (the "Warrant Exercise").
Management and existing founding shareholder participation in the Warrant Exercise is indicative of their continued commitment and endorsement of the Company.
NOA's Chief Executive Officer, Gabriel Rubacha, states: "We are convinced Rio Grande is a robust project to be developed. The recently filed 43-101 technical report updating the resource estimate is a strong indicator of the potential of this project and we believe our continued development will unlock additional value of this project. The capital commitment made by all senior management, as well as the support of our founding shareholders, is indicative of our confidence in the upside potential of the project and the Company".
About NOA Lithium Brines Inc.
NOA is a lithium exploration and development company formed to acquire and develop assets with significant resource potential. All NOA's projects are in the heart of the prolific Lithium Triangle, in the mining-friendly province of Salta, Argentina, near a multitude of projects and operations owned by industry leaders. NOA has rapidly consolidated one of the largest lithium brine claim portfolios in this region that is not owned by a producing company, with key positions on three prospective salars (Rio Grande, Arizaro, Salinas Grandes) and a total portfolio of approximately 100,000 hectares.
On Behalf of the Board of Directors,
Gabriel Rubacha
Chief Executive Officer and Director
For Further Information
Cautionary Note Regarding Forward-Looking Statements
This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking statements. Forward-looking statements including, but not limited to NOA's future plans and objectives regarding its projects, which constitute forward looking information that involve various risks and uncertainties. Although NOA believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. NOA does not assume any obligation to update any forward-looking statements except as required under applicable laws.
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SOURCE: NOA Lithium Brines Inc.