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by Stockwatch Business Reporter

The TSX Venture Exchange gained 3.98 points to 678.23 Thursday. Marc Cernovitch and David Sidoo's halted capital pool shell, North South Petroleum Corp. (NAS), is acquiring a lithium property option for its qualifying transaction. The property is CVL South in Nevada, and the optionor is Brian Paes-Braga and Paul Matysek's Lithium X Energy Corp. (LIX: $1.98). North South has already paid a $100,000 (U.S.) non-refundable deposit to Lithium X. To acquire the option, it must pay another $1.5-million (U.S.) and issue shares to Lithium X such that the optionor would hold 19.9 per cent of the company on closing of the QT. Based on North South's 23,291,990 shares issued, plus 16 million shares that will be sold in a planned concurrent financing, the number of shares corresponding to 19.9 per cent is 9,761,680.

In connection with the QT, North South plans to change its name to Advantage Lithium Corp. To earn a 50-per-cent interest in CVL South, Advantage Lithium must spend $2-million (U.S.) on work programs over three years. CVL South consists of 471 claims covering 9,540 acres in the Clayton Valley. Its neighbour to the north is the producing Silver Peak lithium mine. Resource explorers with lithium properties in the Clayton Valley are touting their proximity to Silver Peak and, more importantly, the possibility that they would become suppliers to lithium-ion battery factories. The main such factory to name-drop about is the enormous one being built by Elon Musk's Tesla Motors Inc. (TSLA: $215.21 (U.S.)) near Sparks, Nev. Tesla's electric cars use lithium-ion batteries.

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