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ARGOSY EXECUTES INVESTMENT & OFF-TAKE AGREEMENTS
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HIGHLIGHTS
Argosy executes binding investment and off-take agreements with fast-growing Chinese battery company Qingdao Qianyun High-tech New Material Co. Ltd.
Transaction includes A$26.4M to be received upfront through an equity placement and prepayment under a 1-year preliminary off-take agreement
Upfront A$26.4M exceeds Stage 2 development expenditure budget for the Rincon Lithium Project
Cornerstone shareholding at a premium combined with long-term off-take validates Argosy’s strategy to develop Rincon into a commercial lithium project
Argosy to consider additional cooperation with Qianyun for funding proposed Stage 3 development of Rincon Lithium Project
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