Edison acquires lithium brine claims in South America's Famed Lithium Triangle
2021-06-18 14:18:58 [Print]
Canada-based Edison Cobalt Corp. (the "Company") announced that it has entered into a Definitive Purchase and Sale Agreement to acquire Resource Ventures S.A. ("ReVe"), an Argentina corporation that owns or controls the rights to over 148,000 hectares of prospective lithium brine claims in the province of Catamarca, Argentina. The claims are principally located in the two geologic basins known as the Antofalla Salar and the Pipanaco Salar in South America's famed Lithium Triangle.
Under the terms of the agreement, Edison can acquire ReVe and a 100% interest in its properties for a purchase price of $1,850,000.00 paid by the issuance of 10,000,000 common shares of the Company at a deemed price of $0.185 per share. The Company will also pay a finder's fee of $92,500.00 by the issuance of 500,000 common shares of the Company at a deemed price of $0.185 per share.
Under the terms of the agreement, Edison can acquire ReVe and a 100% interest in its properties for a purchase price of $1,850,000.00 paid by the issuance of 10,000,000 common shares of the Company at a deemed price of $0.185 per share. The Company will also pay a finder's fee of $92,500.00 by the issuance of 500,000 common shares of the Company at a deemed price of $0.185 per share.
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