Lithium South POSCO Transaction
VANCOUVER, BC / ACCESS Newswire / November 12, 2025 / Lithium South Development Corporation (the "Company" or "Lithium South") (TSX-V:LIS)(OTCQB:LISMF)(Frankfurt:OGPQ) is pleased to announce that it has been advised by POSCO Argentina S.A.U. that the proposed acquisition of the Hombre Muerto North Lithium (HMN Li Project) Project via the purchase of NRG Metals Argentina S.A. (the wholly owned subsidiary of Lithium South) has been fully approved and the investment has been scheduled. Funds have been allocated to POSCO Argentina S.A.U. for completion of the transaction.
The two companies are currently working for the completion of the Share Purchase Agreement ("S.P.A.") as announced July 30, 2025, August 7, 2025, and September 22, 2025. The final acquisition price has been agreed and adjusted to US$65 million to account for tax burdens, closing costs and property payments. All major issues have been resolved, and a formal signing is anticipated in the immediate future.
In light of clearance of the investment decision by POSCO, the Company is scheduling an Annual General and Special Meeting date of January 9, 2026. The purpose of the meeting is to obtain shareholder approval for the sale of NRG Metals S.A. (the owner of the HMN Li Project), the repurchase of all of the issued and outstanding securities of the Company as well as other business matters. The transaction is subject to regulatory approval and the approval of the TSX Venture Exchange. Further details will be announced once the S.P.A. has been signed.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.
SOURCE: Lithium South Development Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/lithium-south-gets-green-light-from-posco-1100771