Key Developments For Lithium One Inc.
Lithium One Inc. (LI.V) (TSX Venture Exchange)
Lithium One Inc. Appoints Martin R. Rowley As Chairman
Lithium One Inc. announced the appointment of Martin R. Rowley as non-executive independent Chairman of the Company's Board of Directors. The appointment is effective from November 10, 2009.
Lithium One Inc. Buys Rights To Argentine Lithium Project-DJ
Dow Jones reported that Lithium One Inc. as bought an option to buy up to 100% of the Sal de Vida lithium brine project in northwest Argentina. The Company bought the rights from Maktub Compania Minera SRL, the current owner of Sal de Vida, which covers more than 150 square kilometres. The Company stated that it has paid $100,000 to Maktub already, and total payments could reach $5.6 million through August 2014. Maktub retains a 20-year right to mine ulexite at Sal de Vida. The Company has the option to buy those rights for $7 million.
Coniagas Resources Limited Changes Name To Lithium One Inc.
Coniagas Resources Limited announced that all items that were on the agenda that required shareholder vote at the Company's 2009 annual general and special meeting held on July 13, 2009 were approved, including the name change of the Company to Lithium One Inc. to reflect its primary focus. The Company anticipates that the shares of Lithium One will commence trading on the TSX Venture Exchange under the new name by July 20, 2009 under the new symbol "LI", which is the chemical symbol for lithium.
Coniagas Resources Limited Appoints Patrick Highsmith As President And CEO
Coniagas Resources Limited announced that it has appointed Patrick Highsmith as President and Chief Executive Officer (CEO) of the Company effective June 12, 2009. Mr. Highsmith will be replacing Mr. Frederic W. R. Leigh, the Company's interim President and Chief Executive Officer.
Coniagas Resources Limited Closes Balance of $4.125 Million Financing
Coniagas Resources Limited announced that it has closed the final $1.045 million of its total $4.125 million private placement financing. An additional 2,090,000 units of the Company were issued at a price of $0.50 per Unit. Each Unit is comprised of one common share and one warrant, with each warrant exercisable into a common share for a period of one year at an exercise price of $0.75. In connection with the offering, the Company paid a finder's fee of $62,700 and issued an aggregate of 146,300 warrants, each of which is exercisable to purchase one common share of the Company at a price of $0.75 per share for a period of one year. The proceeds of the offering will be used for exploration work on the Company's mineral properties and for general working capital. The proceeds raised from the sale of the flow though units that were issued on June 1, 2009 will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) related to the exploration programs of the Company.
