December 19, 2017
Nextview New Energy Lion Hong Kong Limited (NextView) has entered into a definitive agreement to acquire up and coming Argentinian mining concern Lithium X Energy Corp.
“We believe this $265 million transaction puts our flagship asset, Sal de los Angeles, in the hands of a well-funded, technically capable team,” stated the chairman of Lithium X Paul Matysek and Brian Paes-Braga, the Founder, CEO and Director of the company, in Monday’s press release. “We thank NextView and its partners for their commitment to this transaction and provide our best wishes in their continuing efforts to complete on our mission.”
Lithium X was founded at a minimal market value and went public two years ago, with a mission to help wean the world off fossil fuels through the development of high quality lithium deposits.
Mr. Yaping He, Managing Partner of NextView, sees the acquisition as a key move in developing that company’s presence in the blossoming lithium energy market.
“The acquisition of Lithium X’s wholly owned flagship project, the Sal de los Angeles lithium project (SDLA Project) represents a key cornerstone investment in NextView’s strategy of developing a leading global player in the new energy sector,” stated Yaping He. “The SDLA Project has a mineral resource exceeding 2 million tonnes of lithium carbonate equivalent (LCE).”
NextView is an investment firm with offices in Beijing and Shanghai, managing over RMB30 billion assets and invests in new energy, resources, TMT, sports and consumer sectors.
Known for its investment performance in China resources sector, NextView is the second largest shareholder of Tibet Summit Co., Ltd. (Tibet Summit), and has invested in Western Mining Co., Ltd. (Western Mining).
NextView has agreed to acquire all of the issued and outstanding common shares and warrants of Lithium X. Lithium X’s flagship project, Sal de los Angeles lithium brine project, as well as Arizaro Lithium Brine Project are located in the prolific “Lithium Triangle” in mining friendly Salta province, Argentina.