Lithium Power International (ASX: $LPI) scheme of arrangement approved

Lithium Power International Limited (ASX: $LPI) has announced that the Federal Court of Australia has approved the proposed scheme of arrangement for the acquisition of 100% of the share capital of LPI by Salar de Maricunga SpA, a wholly-owned subsidiary of Corporación Nacional del Cobre de Chile.

Executive Commentary on Scheme Approval

The Board of Directors of Lithium Power International Limited is pleased to announce that the Federal Court of Australia has approved the scheme of arrangement, marking a significant step in the acquisition process. We believe that this acquisition will provide new opportunities for LPI and its shareholders, and we are committed to keeping our shareholders informed as the process progresses.

Summary of Scheme Approval and Outlook

Lithium Power International Limited (ASX: $LPI) has received approval from the Federal Court of Australia for the proposed scheme of arrangement, allowing for the acquisition of 100% of its share capital by Salar de Maricunga SpA. The scheme is expected to become legally effective upon lodgement of the Court's orders with the Australian Securities and Investments Commission. Following this, LPI shares are anticipated to be suspended from trading on ASX. The company will continue to update its shareholders on any material developments related to the scheme as the process unfolds. This acquisition represents a significant milestone for LPI and demonstrates its commitment to exploring new opportunities for growth and development in the industry.