LATIN RESOURCES JV

JOINT VENTURE WITH LATIN RESOURCES IN ARGENTINA AND PERU

In May 2016, Lepidico Ltd agreed to key commercial terms with ASX-listed Latin Resources Ltd (ASX:LRS) to form a strategic joint venture to develop a lithium business in Argentina and Peru. This partnership combines the L-Max® technology of Lepidico with Latin’s presence and experience in Latin America.

Under the terms of the agreement, Lepidico and Latin Resources will form two joint venture (“JV”) companies, one focused on Argentina and the other on Peru. Details of the agreement can be found in Platypus’ ASX announcement here.

The JV companies are focused on the acquisition and development of hard rock lithium opportunities and will have the benefit of exclusive access to Lepidico’s L-Max® technology.

The initial ownership interest in the JV companies will be 60% Latin / 40% Lepidico and Latin will provide the first A$1,000,000 in funding.

Latin and Lepidico are in the process of finalising formal shareholder agreements for the JV companies and expect this to be completed shortly.