Dajin Signs Memorandum Of Understanding And Financing With Lithium S Corporation

August 8, 2016 – Vancouver, BC – Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) is pleased to report that Dajin’s wholly owned Argentinian subsidiary, Dajin Resources S.A., has signed a binding Memorandum of Understanding (“MOU”) with Lithium S Corporation (“LSC”) whereby LSC will be granted an option to earn a 51% interest in Dajin’s lithium properties in Argentina (the “Project”).
LSC will earn a 51% interest in the Project by making a payment of CDN$1.0M (the “Payment”) in cash or, at the election of Dajin, half in cash and half by way of the issuance to Dajin of 300,000 common shares of LSC, within 30 days of the date of signing of the MOU and the expending of a total of CDN$2.0M on the Project. A non- refundable payment of CDN$50,000 has been paid which will be credited towards the Payment.
LSC has agreed to subscribe for CDN$500,000 in a non-brokered Private Placement, subject to acceptance by the TSX Venture Exchange, at CDN$0.18 per share with one whole share purchase warrant attached which are exercisable at CDN$0.25 for two years. These funds will be used to further the exploration and development of Dajin’s Teels Marsh Lithium brine project in Nevada.
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