Lithium One Exercises Option to Complete Acquisition of Cyr Property

Lithium One Inc. (TSXV:LI) reports the exercise of its option to acquire a 100% interest in the Cyr Lithium Property in northwestern Quebec.

The press release is quoted as saying:

The Property covers approximately 216 hectares at the core of the James Bay lithium project. To exercise the option the Company is making final payments totalling $2.5 million in cash to four arm’s length Optionors, as well as $500,000 in common shares of the Company to the Sociéte de Développement de La Baie James (SDBJ). The James Bay lithium project lies along the Route de la Baie James in northwestern Quebec and it hosts an extensive outcropping spodumene pegmatite deposit.

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