11:12 AM EDT, 06/24/2024 (MT Newswires) -- Green Shift Commodities ( GRCMF ) on Monday said it closed the final tranche of a private placement of share units, raising $2.1 million, and reached a deal to sell its lithium assets in Argentina.

Under the second tranche of the offering, Green Shift issued 18.6-million units at $0.05 each, with each unit made up of a share and a three-year warrant to buy a second share at $0.075.

The company reached a definitive agreement with Lion Critical Elements, which will acquire Green Shift subsidiary LFP Resources for 1.46-million shares at US$0.75 per share and 500,000 three-year warrants to buy a Lion share at US$1.00.

LFP owns 10,000 hectares of prospective lithium ground in Rio Negro, Chubut, and Neuquen Provinces in Argentina and 25% of Pampa Litio S.A. Lion is an arm's length, privately-held company that has a portfolio of lithium projects in Southern Zambia and uranium assets in Niger.

Green Shift shares were last seen up $0.01 to $0.07 on the TSX Venture Exchange.

Price: 0.07, Change: +0.01, Percent Change: +16.67