NextView New Energy Lion HongKong Ltd. completed its C$265 million acquisition of Lithium X Energy Corp., according to a March 12 release.

Each Lithium X shareholder received C$2.61 in cash per share, while each warrant holder received 1 cent apiece.

The transaction includes the Sal de los Angeles and Arizaro lithium brine projects in Argentina.

Lithium X shares are expected to be delisted from the TSX Venture Exchange.

NextView said the acquisition will ensure the long-term supply of battery-grade lithium, adding that it remains committed to investing in high-quality assets.

Shares of Lithium X fell over 20% on March 1 after NextView failed to complete a £31.2 million investment in Bacanora Minerals Ltd., casting doubt on the Chinese institutional fund management group's ability to complete the transaction.