Overview of Foreign Investment Review Board approval

Lithium Power International Limited (ASX: $LPI) has received written confirmation from the Foreign Investment Review Board (FIRB) that the Commonwealth Government has no objection to the acquisition of 100% of its share capital by Salar de Maricunga SpA, a wholly-owned subsidiary of Corporación Nacional del Cobre de Chile (Codelco). This approval satisfies a condition precedent to the proposed scheme of arrangement between LPI and Codelco.

Executive commentary on the approval

The Company is pleased to announce the receipt of FIRB approval, marking a significant milestone in the progress of the proposed scheme. We remain committed to keeping our shareholders informed as the timetable for the scheme advances.

Summary of the announcement and outlook

Lithium Power International Limited (ASX: $LPI) has successfully obtained approval from the Foreign Investment Review Board for the acquisition of its share capital by Codelco's subsidiary. The approval represents a crucial step forward in the proposed scheme of arrangement. The Company will continue to update shareholders on material developments as the scheme progresses, and all further changes to the timetable will be duly communicated. This development underscores LPI's commitment to the successful execution of the scheme and its dedication to keeping stakeholders informed throughout the process.