Alberta miner replaces Chinese investor that Ottawa barred from owning Canadian assets – by Naimul Karim (Financial Post – February 16, 2023)

Lithium Chile regrets losing ‘an incredible shareholder,’ COO says

Lithium Chile Inc., one of three Canadian miners affected by Ottawa’s snap decision to block Chinese investment in critical minerals, said the order has been satisfied, although it regrets losing an “incredible shareholder” that supplied valuable expertise.

Chengze Lithium International Ltd. had purchased a 19.4 per cent stake in Lithium Chile, making it one of the Calgary-based company’s largest shareholders. Chengze sold its shares to Gator Capital Ltd., a Toronto-based firm that focuses on investment consulting and asset management. The transaction was completed for about $34.5 million, or 91 cents per share.

“The order has been satisfied,” Michelle DeCecco, Lithium Chile’s chief operating officer, said in an emailed statement on Feb. 16.

“While we regret the situation has resulted in us losing an incredible shareholder with a valued expertise in lithium brine, we welcome a shareholder who clearly sees the value of our company, paying a premium to market for our shares.”

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