10:31 AM EDT, 09/05/2024 (MT Newswires) -- Argentina Lithium & Energy ( LILIF ) was at last look unchanged and trading near 52 week lows after saying Thursday that it has fully exercised its options to acquire 22 lithium-prospective properties totaling 25,391 hectares at its Rincon West, Pocitos and Antofalla North projects.

The properties are subject to production royalties and the options were exercised over the past 10 months, according to the company.

"Following the receipt of the investment from Stellantis, we deployed the funds to secure a large portion of our most prospective optioned properties, where we have advanced drilling and geophysics throughout 2024," President and CEO Nikolaos Cacos said. "These acquisitions secure large land packages where our reconnaissance work has validated initial exploration hypotheses."