United Lithium Corp Completes Acquisition of 100% of the Bergby Lithium Project
(firmenpresse) - Vancouver, British Columbia
April 30, 2021 - United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0UL) (the Company) is pleased to announce, further to its news release dated February 11, 2021, that it has completed the acquisition (the Acquisition) from Leading Edge Materials Corp. (Leading Edge) of 100% of the issued and outstanding share capital of Bergby Lithium AB (Bergby), which holds a 100% interest in and to the mining licenses comprising the Bergby Lithium project (the Project), located in central Sweden, 25km north of Gavle.
Purchase Consideration
As consideration for the Acquisition, the Company has: (a) paid CAD$250,000 in cash; (b) issued 1,031,864 common shares in the capital of ULTH (each, a ULTH Share); (c) issued 400,000 common share purchase warrants (the Warrants), with each Warrant entitling the holder thereof to acquire, for a period of 36 months from the Closing Date, one ULTH Share at an exercise price equal to approximately CAD$0.485; and (d) granted a 2% net smelter returns royalty on the Project, which is subject to a buyback right in favour of ULTH, exercisable for CAD$1,000,000.
The ULTH Shares will be escrowed and released over a 20-month period. The Company shall also pay an additional CAD$250,000 in cash on October 29, 2021.
In addition to the foregoing, the Company has committed to exercise reasonable commercial efforts toward spending CAD$1,000,000 on exploration work on the Project prior to October 29, 2022, and Leading Edge will, at its cost, make available to the Company the part-time services of its Chief Geologist to provide geological support in exploring the Project until April 29, 2022.
On Behalf of The Board of Directors
Michael Dehn
Chief Executive Officer
Investor Relations
(604) 259-0889
ir(at)unitedlithium.com
About United Lithium Corp.
United Lithium Corp. (CSE: ULTH | OTC: ULTHF) is an exploration & development company energized by the global demand for lithium. The Company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.
The Company''s consolidated financial statements and related management''s discussion and analysis are available on the Company''s website at www.leadingedgematerials.com or under its profile on SEDAR at www.sedar.com.
Forward Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws, including, but not limited to, in relation to statements regarding the anticipated completion of the Acquisition, the commencement and completion of the Program, and the Company''s business and plans. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Acquisition does not complete as contemplated, or at all; that the Program does not proceed as contemplated, or at all; that the Company does not carry out any further exploration activities in respect of the Project; that the Company does not complete any resource, technical or other geological report in respect of the Project; and that the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. The statements in this news release are made as of the date of this release.
The CSE does not accept responsibility for the adequacy or accuracy of this release
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
" alt="Denarius Silver Announces Completion of Acquisition of the Lomero Project, Spain and Conversion of Subscription Receipts">
" alt="TAAT™ Receives CAD $149,000 Purchase Order from London-Based Wholesaler for Distribution in the United Kingdom and Ireland">
Datum: 30.04.2021 - 03:06 Uhr
Sprache: Deutsch
News-ID 1566675
Anzahl Zeichen: 6504
contact information:
Contact person:
Town:
Wien
Phone:
Kategorie:
Business News
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 284 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"United Lithium Corp Completes Acquisition of 100% of the Bergby Lithium Project
"
steht unter der journalistisch-redaktionellen Verantwortung von
United Lithium Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
