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M&A / Property Routine +

Lithium Chile and China Union Holdings Ltd. Sign an Amended and Restated Share Purchase Agreement

Deal Amendment Clarifies Ownership Structure Ahead of Shareholder Vote

By The Northwire Desk — AI Analysis May 07, 2026 · 09:32 LITH · 0.67 Lithium Chile Inc.
Executive Summary
  • Lithium Chile Inc. signed an amended and restated share purchase agreement with China Union Holdings Ltd. on May 7, 2026.
  • The amendment clarifies beneficial ownership of Argentum Lithium S.A. shares held by Mr. Cochrane, confirming they are held in trust for the Company.
  • Contractual amendments include revised definitions regarding government interventions and updated indemnities covering post-closing government actions for 60 months.
  • Maximum liability for breaches of representations or warranties remains unchanged despite indemnity modifications.
  • Transaction remains subject to TSX Venture Exchange approval and shareholder vote scheduled for May 15, 2026.
  • Target closing date is June 30, 2026, pending Chinese outbound direct investment (ODI) approval and acquisition of additional interest from joint venture partner LitiAr S.A.
Material Impact
  • The core transaction value remains US$175 million as announced in December 2025; no new economic upside is introduced by this amendment.
  • Clarification of beneficial ownership mitigates a specific regulatory risk regarding title to the subsidiary being sold, which could have stalled TSX-V approval.
  • This news is expected given the timeline leading up to the May 15 shareholder vote and circular mailing in April.
  • The market has already priced in the $175 million sale as a "Game Changer" event from December; this step is procedural rather than transformative.
  • Risk remains on regulatory approvals (Chinese ODI) and the aggressive June 30 closing timeline given the complexity of cross-border lithium transactions.
LITH · Price
Company Overview
  • Lithium Chile Inc. operates as an exploration and development firm focused on lithium-rich salars in the "Lithium Triangle" (Argentina, Chile).
  • Flagship Project: Arizaro Project (Salta Province, Argentina) with estimated resource of 4,122,000 tonnes LCE.
  • PFS for Arizaro indicates pre-tax NPV8% of US$3.85 billion and IRR of 42.1%, though the project is now being sold to China Union Holdings.
  • Chilean Portfolio: Includes Coipasa (prioritized for Special Lithium Operation Contract), Block IV, and multiple other properties covering ~108k ha in Chile.
  • Strategy involves selling Argentine assets to fund development of higher-grade Chilean projects while returning capital to shareholders.
Read the original news release →

More from Lithium Chile Inc.

Jun 18, 2026 · 17:25

Lithium Chile delays China Union’s $175 million Arizaro exit pending ODI approvals.

M&A / Property May 19, 2026 · 08:15

Shareholders rubber-stamp US$175M Arizaro exit; deal de-risked but Chinese ODI approval still the final gate.

M&A / Property Apr 24, 2026 · 08:10

Lithium Chile Advances Arizaro Sale Toward Closing; Shareholder Vote Set for May

M&A / Property Feb 18, 2026 · 18:27

Lithium Chile receives $5M (U.S.) deposit for Arizaro

M&A / Property Feb 18, 2026 · 08:00

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Financings Jan 15, 2026 · 18:55

Lithium Chile to hold AGSM May 15

M&A / Property