Lithium South Extends Share Purchase Agreement with POSCO Argentina

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Lithium South (OTCQB:LISMF) announced an extension to the Share Purchase Agreement with POSCO Argentina S.A.U. to sell NRG Metals Argentina S.A., the Company’s wholly owned subsidiary and 100% holder of the Hombre Muerto North lithium project and related Sophia and Hydra claims, for US$65 million.

The parties agreed to extend the deadline to complete and formalize the SPA to on or before December 5, 2025 due to recent air travel disruptions and scheduled statutory holidays in Argentina and the United States.

Positive

Transaction value of US$65 million
100% interest in Hombre Muerto North included in sale
Buyer identified as POSCO Argentina S.A.U.

Negative

Closing date extended to on or before December 5, 2025
Delay attributed to air travel disruptions and statutory holidays

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11/20/2025 – 12:40 PM

VANCOUVER, BC / ACCESS Newswire / November 20, 2025 / Lithium South Development Corporation (LISMF) (TSX-V:LIS)(Frankfurt:OGPQ) has announced an extension to its Share Purchase Agreement (SPA) with POSCO Argentina S.A.U. regarding the sale of its wholly-owned subsidiary, NRG Metals Argentina S.A.

The updated SPA outlines the terms for POSCO’s acquisition of NRG Metals Argentina, which holds 100% ownership of the Hombre Muerto North Lithium Project, as well as the Sophia I, II, and III and Hydra X and XI claims, all located in Salta Province, Argentina. The purchase price remains at US$65 million.

In a statement, Lithium South cited air travel disruptions and scheduled statutory holidays in Argentina and the United States as the reason for extending the deadline to finalize the SPA. The new deadline is set for December 5, 2025.

The Hombre Muerto North project is strategically significant, located in the heart of Argentina’s “Lithium Triangle,” a region known for its high-grade lithium brine deposits. POSCO’s interest in acquiring the project underscores the growing global demand for lithium, a key component in electric vehicle batteries and other energy storage technologies. The deal further solidifies POSCO‘s, the South Korean steel giant that has been aggressively diversifying into lithium production, ambition of becoming a major player in the battery materials supply chain.

Analysts note that while the delay is a minor setback, it does not fundamentally alter the value proposition of the transaction. The acquisition is expected to provide POSCO with increased access to lithium resources, securing its position in the rapidly expanding electric vehicle market. For Lithium South, the sale represents a significant return on investment, allowing the company to potentially explore other lithium projects or distribute capital to shareholders.

The extension of the deadline highlights the complexities of conducting international business, particularly in regions with distinct regulatory and logistical landscapes. However, both companies have expressed continued commitment to the transaction, suggesting a high likelihood of successful completion by the revised deadline.

On behalf of the Board of Directors

Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.

This news release contains certain “forward-looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.

SOURCE: Lithium South Development Corp.

View the original press release on ACCESS Newswire

FAQ

What did Lithium South (LISMF) announce on November 20, 2025?

Lithium South announced an extension to the SPA with POSCO Argentina to sell NRG Metals Argentina for US$65 million, moving the completion date to on or before December 5, 2025.

What assets are included in the POSCO Argentina SPA for LISMF?

The SPA covers NRG Metals Argentina, which holds a 100% interest in the Hombre Muerto North lithium project and the Sophia I–III and Hydra X–XI claims.

Why was the LISMF POSCO SPA closing date extended to December 5, 2025?

The parties cited recent air travel disruptions and scheduled statutory holidays in Argentina and the United States as the reason for the extension.

How long is the new deadline to formalize the SPA between LISMF and POSCO Argentina?

The parties agreed to complete and formalize the SPA on or before December 5, 2025.

How will the US$65 million SPA affect LISMF shareholders?

The press release states the agreed sale price is US$65 million; specific proceeds allocation or timeline were not detailed in the announcement.

Who should investors contact for more information about LISMF’s SPA update?

Investors and shareholders are directed to call 855-415-8100 or visit www.lithiumsouth.com for more information.

Lithium South Development Corporation