Lake Resources NL Strengthens Board of Directors by Adding Argentina-Based Director to Support Development

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Sra Amalia Sáenz “is a key addition to the board as the company grows and to help strengthen our engagement with key stakeholders in Argentina,” said the president.

Lake Resources NL (ASX: LKE, OTCQB: LLKKF) strengthened its board of directors by appointing experienced Argentinian lawyer in the field of energy and natural resources, Sra Amalia Sáenz, as a non-executive director.

The appointment of Buenos Aires-based Sra Amalia will help the company and its local team in Argentina engage local stakeholders and prepare them for the development of clean lithium production in Argentina.

This comes as Lake is gradually expanding its team to support the development of the Kachi Lithium project in production, against a backdrop of accelerating demand for battery grade lithium.

“Valuable experience in the country”

Lake Chairman Stu Crow said, “Amalia brings invaluable in-country resource experience as well as an added level of governance and diversity to the board.

“She is a key addition to the board as the company grows and to help improve our engagement with key stakeholders in Argentina.

“Amalia will bring extensive legal and business experience in the development and operations of energy and resource companies in Argentina. “

Experience and know-how

Sra Sáenz is a partner at Zang, Bergel & Viñes law firm in Buenos Aires, where she leads the energy and natural resources practice.

A distinguished member of the Association of International Petroleum Negotiators (NSX: IOP), Sra Sáenz has extensive experience in the field of energy and resources, including mergers and acquisitions, financing, joint ventures and agreements of operating in Argentina.

She has also worked in Central Asia and the UK, gaining experience in exploring and developing production beyond international borders and cultures.

Bonus options for shareholders

The company also plans to issue free options to all shareholders with an address in Australia or New Zealand on the date of registration.

As the bonus options will be issued for nil consideration, the company does not raise any capital from their issuance.

Thank the shareholders

Lake Managing Director Steve Promnitz said, “The intention of the offer is to thank the supporting shareholders as Lake enters a major phase of development through finance, construction and production.

“Shareholders have enjoyed the benefits of a similar bonus option offering in 2019 and the company is looking to repeat that success.”

Option details

The company will grant a free bonus option to eligible shareholders for each tranche of 10 shares held on the registration date of August 10, 2021.

The free options will have an exercise price of $ 0.35 each, expiring October 15, 2021, and, if exercised, each will result in the grant and issue of one fully paid common share of Lake.

Each free option, when exercised, will give rise to the issuance of a second option.

The additional options will have an exercise price of $ 0.75 each, expiring June 15, 2022, and if exercised, will result in the grant and issue of one fully paid common share of the company. .

Lake intends to seek approval to list and trade the additional options on the ASX.

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