Latin Resources secures major Argentinian investment company as new partner in “transformational” deal

Latin Resources Ltd (ASX:LRS) (FRA:XL5) has taken a key step on the path to becoming a major lithium industry player by signing a "transformational" joint venture agreement with leading Argentinian investment group Integra Capital SA.

This agreement covers the company's lithium pegmatite projects and will see Integra spend up to US$1 million (A$1.4 million) in a JV to explore, develop and earn 50% of the projects in Argentina's Catamarca province.

In addition, Integra also has an option to become Latin's largest corporate shareholder through an equity investment to take a cornerstone 10% holding.

LRS shares have surged 166% in early trade to 0.8 cents.*Attracted by portfolio*

The new partner was attracted to Latin's highly prospective and large-scale lithium tenement portfolio in Argentina, as well the company's renowned 10-year operational experience in Latin America.

Integra Capital founder and president Jose Luis Manzano said: "We are very happy in becoming partners with Latin Resources in Argentina to advance this promising lithium pegmatite project.

"We expect to benefit from the knowledge of Latin Resources and contribute with our experience in Argentina and our highly qualified team to advance the project."

Founded in 1995, Integra has a diversified portfolio in more than 10 countries and has developed projects and ventures with private institutions and investors valued at more than $16.5 billion.

As one of Argentina's largest lithium explorers, Integra holds more than 400,000 hectares of lithium brines projects in Jujuy and Catamarca provinces.

The firm has also developed a portfolio of assets in oil exploration and production, natural gas distribution, electricity generation and distribution, and also has investments in uranium and copper.

Integra provides services such as mergers and acquisitions, financial structuring, IPOs, due diligence procedures, debt and company restructuring.