M&A / Property Routine +

Lithium Chile Shareholders Vote 96% in Favor of Proposed Sale of Company's Arizaro Project In Salta, Argentina

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

By The Northwire Desk — AI Analysis May 19, 2026 · 08:15 LITH · 0.71 Lithium Chile Inc.

Executive Summary

On 2026-05-19, Lithium Chile reported that at its Annual General and Special Meeting (held 2026-05-15), shareholders voted 96% in favor of the proposed US $175,000,000 sale of the Arizaro project, executed via disposition of its Argentine subsidiary Argentum Lithium S.A. to China Union Holdings Ltd. (CUH).
All routine corporate matters passed: director slate, MNP LLP reappointed as auditor, stock option plan approved.
Outgoing director Ken Booth transitions from the board to a consulting role.
CEO Cochrane states the company continues to "finalize all outstanding closing requirements" toward closing the Transaction.

Material Impact

This is a procedural milestone, not new information. The deal itself was announced and rated as the game-changer back on 2025-12-22; the shareholder vote was always a required step (originally calendared at the 2026-01-14 update). 96% approval is high but unsurprising given the board recommendation, independent fairness opinion, and a buyer deposit already in escrow.
It removes one specific risk: shareholder rejection. That risk was widely viewed as low. The two real remaining gates are unchanged:
Chinese ODI (outbound direct investment) approval for CUH — the most material unresolved condition.
Acquisition of an additional 17.8% interest in ARLI S.A. from joint venture partner LitiAr S.A., lifting Argentum's stake to 80%.
Stock action backs the "expected" interpretation: shares were already pressing 52-week highs (C$0.71–0.72) into the meeting. There is no new catalyst here; the market has been pricing the closing.
Net: positive incremental de-risking, but not market-moving. Routine – Positive.

LITH · Price

Company Overview

Lithium Chile is a TSXV-listed lithium-brine exploration/development company operating across the Lithium Triangle. The October 2025 deck cites ~113,038 ha in Chile (11 properties) and 29,245 ha in Argentina.
Flagship – Arizaro (Salta, Argentina): PFS-stage brine project with an estimated resource of 4,122,000 t LCE; PFS economics in deck: pre-tax NPV₈% US$3.85B, IRR 42.1%, payback 2.5 years, 25,000 t LCE/yr for 20 years, capex ~US$1.055B, opex ~US$5,457/t. Following the pending sale, Arizaro will no longer be Lithium Chile's asset — the company becomes a Chile-focused exploration shell with material cash.
Post-sale Chilean focus: Coipasa (high-grade brine samples up to 1,410 mg/L, ~58 km² conductivity anomaly, awaiting CEOL); Eramet JV across four Chilean properties (Llamara, Aguilar, Rio Salado, Aquas Caliente) with up to US$20M earn-in funding; plus Atacama, Helados, Laguna Blanca, Los Morros, Mariposas, Molle Verde, Turi.
Note: deck headline references "US$180M (≈CAD$250M)" for an 80% sale of Arizaro; the executed definitive agreement is 100% of Argentum for US$175M cash. The earlier deck figure is now superseded.

More from Lithium Chile Inc.