Ms. Sara Hills reports
NORTEC SELLS STAKE IN KIETYONMAKI LITHIUM PROJECT IN FINLAND
Nortec Minerals Corp. has sold its minority interest in the Kietyonmaki lithium project, located in Finland, by selling its 16.4-per-cent interest in Litiumloydos Oy, the entity that holds the rights to the project, to United Lithium Corp. As consideration for the acquisition, the company received $200,000 in cash in exchange for 490 common shares of Litiumloydos, representing its 16.4-per-cent minority interest. As a condition of closing, all involved parties entered into a deed of variation for the purpose of removing Litiumloydos, Tammela Minerals Oy (a subsidiary of the company) and Nortec as parties to a joint venture agreement, thereby extinguishing the company's rights to any royalties on any future production on the project.
About Nortec Minerals Corp.
Nortec is a mineral exploration company that holds 100-per-cent interests in two exploration-stage critical mineral (zinc) projects, namely the Mattagami River zinc and the Sturgeon Lake VMS (volcanic massive sulphide) properties, both located in Ontario, Canada. Additionally, the company holds a 16.4-per-cent interest in the Tammela gold property, southwest Finland. Additional information can be found on the company's SEDAR+ profile and the company's website.
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