- Shares of lithium explorer and developer Argentina Lithium & Energy soared today after the company announced a US$90 million investment by automaker Stellantis.
Further, the company said it has granted Stellantis the exchange right to exchange all of the ALE shares for up to 19.9% of the outstanding common shares of Argentina Lithium in the future, subject to certain conditions. Argentina Lithium said that the proceeds of the transaction will be used to advance development of the company’s lithium projects held through its wholly owned subsidiary in Argentina, and for general corporate purposes.