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Infinity Lithium in trading halt ahead of European funding arrangement

The company recently finalised a sale agreement to sell non-core assets providing clarity on the development of the San José Lithium Project in Spain.

Infinity Lithium Corporation Ltd -
Infinity Lithium is focused on developing the San José Lithium Project in Spain

Infinity Lithium Corporation Ltd (ASX:INF) is in trading halt ahead of a European funding arrangement.

The trading halt will be in place until the beginning of trade on March 25 or when an announcement is made to market, whichever occurs earliest.

Infinity recently executed a binding sale agreement to sell its Gabonese potash assets through the divestment of Equatorial Potash Pty Ltd.

Sale agreement to divest non-core assets

The sale agreement will remove costs associated with the discounted operations and holding costs of the potash assets.

The company is set to streamline its activities and focus on the Spain-based Sane José Lithium Project and believes that the divestment of the potash asset can provide greater clarity for potential strategic investment aligned to the development of the European lithium-ion battery supply chain.

Infinity managing director Ryan Parkin recently said: "We believe that the company remains well placed to attract European support through strategic investment with our interests aligned to European ambitions to develop an integrated lithium-ion battery supply chain.”

Quick facts: Infinity Lithium Corporation Ltd

Price: 0.033 AUD

ASX:INF
Market: ASX
Market Cap: $7.04 m
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