FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1. | Name and Address of Company |
State the full name of your company and the address of its principal office in Canada. | |
Pan American Lithium Corp. (the “Company”) | |
Item 2. | Date of Material Change |
State the date of the material change. | |
July 3, 2012 | |
Item 3. | News Release |
State the date and method(s) of dissemination of the news release issued under section 7.1 of National Instrument 51-102. | |
The News Release dated July 3, 2012 was disseminated by Globe Newswire. | |
Item 4. | Summary of Material Change |
Provide a brief but accurate summary of the nature and substance of the material change. | |
The Company announced that the closing date of the share option agreement dated February 14, 2011 with Sociedad Gareste Limitada, a privately held Chilean Corporation, for the Llanta salar locted in Atacama Region III, Chile, has lapsed as the parties have not executed an agreement to extend the closing date. | |
Item 5.1 | Full Description of Material Change |
Supplement the summary required under item 4 with sufficient disclosure to enable a reader to appreciate the significance and impact of the material change without having to refer to other material. Management is in the best position to determine what facts are significant and must disclose those facts in a meaningful manner. See also item 7. | |
Some examples of significant facts relating to the material change include: dates, parties, terms and conditions, description of any assets, liabilities or capital affected, purpose, financial or dollar values, reasons for the change, and a general comment on the probable impact on the issuer or its subsidiaries. Specific financial forecasts would not normally be required. | |
Other additional disclosure may be appropriate depending on the particular situation. | |
See attached News Release. |
Item 5.2 | Disclosure for Restructuring Transactions |
This item applies to a material change report filed in respect of the closing of a restructuringtransaction under which securities are to be changed, exchanged, issued or distributed. This itemdoes not apply if, in respect of the transaction, your company sent an information circular to itssecurity holders or filed a prospectus or a securities exchange takeover bid circular. | |
Include the disclosure for each entity that resulted from the restructuring transaction, if yourcompany has an interest in that entity, required by section 14.2 of Form 51-102F5. You maysatisfy the requirement to include this disclosure by incorporating the information by reference toanother document. | |
Not Applicable. | |
Item 6. | Reliance on subsection 7.1(2) or (3) of National Instrument 51-102 |
If this report is being filed on a confidential basis in reliance on subsection 7.1(2) or (3) ofNational Instrument 51-102, state the reasons for such reliance. | |
Not Applicable. | |
Item 7. | Omitted Information |
State whether any information has been omitted on this basis that it is confidential information. | |
In a separate letter to the applicable regulator or securities regulatory authority marked“Confidential” provide the reasons for your company’s omission of confidential significant factsin the Report in sufficient detail to permit the applicable regulator or securities regulatoryauthority to determine whether to exercise its discretion to allow the omission of these significantfacts. | |
Not Applicable. | |
Item 8. | Executive Officer |
Give the name and business telephone number of an executive officer of your company who isknowledgable about the material change and the Report, or the name of an officer through whomsuch executive officer may be contacted. | |
Please contact Andrew Brodkey, President and Chief Executive Officer of the Company, at (520) 989-0022. | |
Item 9. | Date of Report July 3, 2012 |
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3040 N. Campbell Avenue, Suite 110 Tucson, Arizona USA 85719 | |||||
News Release | |||||
July 3, 2012 | TSX.V SYMBOL – PL | ||||
Pan American Lithium Corp. Announces The Expiration of Llanta Option Agreement |
Pan American Lithium Corp. (TSX-V:PL) (OTCCB: PALTF) (“Pan American” or the“Company”), www.panamericanlithium.com, today announces that the closing date of the share option agreement dated February 14, 2011 with Sociedad Gareste Limitada, a privately held Chilean Corporation, for the Llanta salar locted in Atacama Region III, Chile, has lapsed as the parties have not executed an agreement to extend the closing date.
AboutPanAmerican:
Pan American has rights in ten lithium-bearing salars in Chile's Atacama Region III covering cumulatively more than 19,000 hectares, including the Laguna Verde surface brine lake.
On Behalf of the Board |
PAN AMERICAN LITHIUM CORP. |
/s/AndrewBrodkey |
Andrew A. Brodkey |
President and CEO |
Tel: (520) 623-3090 |
For further information contact: |
Jodi Henderson, Corporate Secretary |
1-520-989-0032 |
Email: jhenderson@kriyah.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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