The Conversation (0)
Canada Strategic Metals Inc. (TSXV:CJC,FWB:YXEN) and Lomiko Metals Inc. (TSXV:LMR,OTC:LMRMF,FWB:DH8B) announced a new option agreement for the La Loutre Property in Quebec: Lomiko shall have the exclusive right and option to acquire an additional 40% undivided interest in the La Loutre Property and an 80% undivided interest in the Lac des Iles Property for $10,000, the issuance of 3,000,000 common shares of Lomiko and the funding of $2.75 million in exploration expenditures over a 2 year period.
As quoted in the press release:
Strategic Metals has recently sought to divest itself of graphite assets and an opportunity to acquire the Lac des Iles Property arose for Lomiko. As such, Strategic Metals and Lomiko have agreed on the terms of an additional option pursuant to which Lomiko shall have the exclusive right and option to acquire an additional 40% undivided interest in the La Loutre Property and an 80% undivided interest in the Lac des Iles Property in exchange for a payment of $10,000, the issuance of 3,000,000 common shares of Lomiko and the funding of $2.75 million in exploration expenditures over a 2 year period.
Click here to read the Canada Strategic Metals Inc. (TSXV:CJC,FWB:YXEN) press release
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