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Lithium South Development Sets May 15 Cash Payout Date Under Posco Arrangement

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Lithium South Development (LIS.V) on Monday said it received funds from Posco Argentina and set May 15 as the effective date for a cash payout of C$0.505 per share to shareholders.

The company said completion of the arrangement remains subject to final approval from the TSX Venture Exchange.

Lithium South added that registered shareholders must submit a letter of transmittal to Computershare Investor Services to receive the cash consideration, while beneficial shareholders holding shares through brokers or banks will receive payment through their intermediaries.

The company also said it has applied to delist its shares from the TSX Venture Exchange and plans to concurrently delist from the OTCQB market before applying to cease being a reporting issuer. Dates for the delistings will be announced later.

Price: $0.50, Change: $+0.01, Percent Change: +2.04%

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