BULLETIN V2026-1834
LITHIUM SOUTH DEVELOPMENT CORPORATION ("LIS")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement, Plan of Arrangement-, Delist
BULLETIN DATE: May 28, 2026
TSX Venture Tier 2 Company
Property-Asset or Share Disposition Agreement
TSX Venture Exchange Inc. (the "Exchange") has accepted for filing documentation in connection with a definitive share purchase agreement dated December 5, 2025 (the "Agreement") between Lithium South Development Corporation (the "Company") and an arm's length party. Pursuant to the Agreement, the Company has disposed of all of the issued and outstanding shares of its wholly-owned subsidiary, NRG Metals Argentina S.A., which holds a 100% interest in the Hombre Muerto North Lithium Project in Argentina, for cash consideration of USD 65,000,000 (the "Disposition").
Plan of Arrangement
The Exchange has also accepted for filing documentation in connection with a court-approved plan of arrangement (the "Arrangement") involving the Company and its securityholders under Section 288 of the Business Corporations Act (British Columbia).
Pursuant to the terms of the Arrangement, the Company repurchased all of its issued and outstanding common shares (other than one share retained by the CEO to facilitate post-closing matters and dissolution) for cash consideration of CAD 0.505 per share. All outstanding in-the-money options and warrants were cancelled in exchange for a cash payment representing the difference between CAD 0.505 and their respective exercise prices. All out-of-the-money options and warrants were cancelled for no consideration. The Exchange has been advised that the Arrangement closed on May 28, 2026.
The Exchange has been advised that approval of the Disposition and the Arrangement by the shareholders of the Company was received at an annual general and special meeting held on February 19, 2026, and that the Supreme Court of British Columbia provided its final order approving the Arrangement on February 25, 2026. The full particulars of the transactions are set forth in the Company's Management Information Circular dated January 16, 2026, and news releases dated July 30, 2025, August 7, 2025, November 12, 2025, December 8, 2025, February 20, 2026, March 31, 2026, April 10, 2026 and May 28, 2026 which are available under the Company's profile on SEDAR+.
Delist
Further to the completion of the Arrangement effective at the close of business on Friday, May 29, 2026, the common shares of the Company will be delisted from TSX Venture Exchange at the request of the Company.
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