New York – October 13, 2026 -- Ensorcia Group Holdings, LLC has signed a binding letter of intent to acquire Argentina Wildcats, LLC (AW), a deal that would add roughly 50,000 hectares of lithium ground in Argentina and take the company's combined holdings to approximately 67,000 hectares.
Cash deal for 100% of AW comes with contingent consideration
Ensorcia will buy all of AW's outstanding membership interests for cash, plus additional contingent consideration. The source gives no price or contingent terms. Closing remains subject to confirmatory legal review and other customary conditions.
AW holds interests in the former LEXI lithium property.
Drilling and brine testing preceded the decision
Ensorcia moved ahead after drilling and flow testing on the AW property and an evaluation of brine sample results. That evaluation included testing by International Battery Metals Ltd. (IBAT).
Acquisition adds 50,000 hectares to 17,000 already held
The transaction is part of Ensorcia's ongoing resource acquisition program in Argentina. Ensorcia and its affiliates currently hold approximately 17,000 hectares of lithium properties and concessions there. Closing would lift that total to approximately 67,000 hectares.
Former LEXI property to feed the Katal 1 program using IBAT's DLE technology
The former LEXI property will join Ensorcia's Katal 1 development program. The program uses IBAT's direct lithium extraction (DLE) technology under Ensorcia Argentina LLC's exclusive license for Argentina. After closing, Ensorcia plans to integrate the property with its existing Argentine holdings in a coordinated resource development program.
Chairman Daniel Layton said the deal brings additional lithium resources together with drilling, testing and technical work already completed, and that the company aims to advance Katal 1 toward commercial production "as quickly as possible."