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Noram Ventures Inc.’s (TSXV:NRM) (OTCBB:NRVTF:US) Green Energy Inc. has entered into a property purchase agreement, effective date of May 28, 2018, with Alba Minerals Ltd., pursuant to which the company proposes to acquire the 25-per-cent minority interest held by Alba in a series of mineral claims located in Clayton Valley of Nevada.
Noram Ventures Inc.’s (TSXV:NRM) (OTCBB:NRVTF:US) Green Energy Inc. has entered into a property purchase agreement, effective date of May 28, 2018, with Alba Minerals Ltd., pursuant to which the company proposes to acquire the 25-per-cent minority interest held by Alba in a series of mineral claims located in Clayton Valley of Nevada.
In consideration for the interest, the Company will issue to Alba 3,800,000 common shares and will complete a one- time cash payment of $400,000. In addition, Alba will receive a right of first refusal to participate in future financings conducted by the Company to maintain its ownership interest. No finders’ fees or commissions are payable in connection with the transaction.
Completion of the transaction with Alba remains subject to the approval of the TSX Venture Exchange (the “Exchange”). The Company and Alba share a common director, and as a result are deemed to be non -arms length parties under the policies of the Exchange. As a result, the Exchange may impose additional conditions on any approval, including a requirement to provide a valuation of the interest being acquired and to obtain shareholder approval for the transaction. There can be no guarantee that approval of the Exchange will be obtained, or that the transaction will proceed in a timely fashion.
The Company will provide additional information regarding the transaction as soon as it becomes available.
About Noram Ventures Inc.
Noram Ventures Inc. (TSX – Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium deposits and becoming a low – cost supplier for the burgeoning lithium battery industry. The Company’s primary business focus since formation has been the exploration of mineral projects. Noram’s long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of Europe, North America and Asia.
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Source: www.stockwatch.com
