Blockchain Registration Transaction Record

Lithium Energy Sells Solaroz Stake for US$63 Million

Lithium Energy Ltd (ASX:LEL) sells its 90% stake in the Solaroz Lithium Brine Project in Argentina for up to US$63 million to CNGR Netherlands New Energy Technology B.V., reflecting a strategic shift to focus on battery minerals and eliminate development risks for future investments.

The sale of Lithium Energy's stake in the Solaroz Lithium Brine Project is significant as it reflects the company’s strategic shift to focus on battery minerals and eliminate development and funding risks. This impacts the company's cash reserves and future investments, potentially leading to new opportunities in the battery minerals sector. The sale also indicates the company's ability to create significant value since its IPO in 2021, reflecting positive growth and potential for future shareholder distribution.