Lithium Power International Limited (ASX:LPI) (“LPI” or “the Company”) provides an update on the status of the sale of its interest in its Argentinian lithium project situated in the Centenario salar to Centenario Lithium Limited (“the Purchaser”).
As announced on 4 December 2017, the Company has entered into binding contracts with the Purchaser to dispose of 100% of the shares in Lithium Power International Holdings (Argentina) Pty Ltd (“LPIH”). LPIH is the Company’s wholly-owned Australian subsidiary that holds the Company’s interest in the Centenario project (the “Transaction”).
The Transaction was scheduled for completion on or before 30 April 2018, however through no fault of the Company the Transaction has not yet completed. The parties have therefore agreed to extend the completion date to 14 May 2018.
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