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Dajin Resources Corp. (TSXV:DJI) has completed a share purchase agreement with Lithium S Holdings Corp., a wholly owned subsidiary of LSC Lithium Inc., whereby Lithium S has been granted the right to earn a 51-per-cent interest in Dajin Resources SA.
Dajin Resources Corp. (TSXV:DJI) has completed a share purchase agreement with Lithium S Holdings Corp., a wholly owned subsidiary of LSC Lithium Inc., whereby Lithium S has been granted the right to earn a 51-per-cent interest in Dajin Resources SA.
Lithium S will earn a 51-per-cent interest in Dajin Resources SA by making a payment of $1-million in cash (which has been paid) and expending a total of $2-million on concessions held by Dajin Resources SA.
LSC has also completed a non-brokered private placement financing of units with Dajin for net proceeds of $500,000 at a price of 18 cents per unit. Each unit comprises one common share of Dajin and one share purchase warrant of Dajin exercisable into one common share at 25 cents expiring two years from the date of issuance. These securities have a four-month hold period expiring Feb. 26, 2017.
LSC is a minerals exploration company working with Enirgi Group Corp. Together, they are focused on the development of lithium brines in Argentina. LSC was co-founded by Stephen Dattels and Michael Beck, who are well-known mining financiers, having developed many successful mining projects internationally.
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