The TSX Venture Exchange has accepted for filing documentation with respect to the arm's-length acquisition via an option agreement of the Ear Falls lithium project, located in Northwestern Ontario. The company can earn a 100-per-cent interest in the Ear Falls lithium project (subject to a 1.5-per-cent net smelter return (NSR) royalty) via the following consideration.
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Upon signing the agreement, $14,000 cash;
- Within seven business days of approval from TSX Venture Exchange, 300,000 common shares;
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On or before the first anniversary of the option agreement, $14,000 cash;
- On or before the second anniversary of the option agreement, $21,000 cash;
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On or before the third anniversary of the option agreement, $30,000 cash.
For further details, please refer to the company's news releases dated Oct. 12, 2023, and Nov. 7, 2023.
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