New World Resource Signs LOI with Li3 Energy

New World Resource Corp. (TSXV:NW) signed LOI with Li3 Energy, Inc. (OTCBB:LIEG) regarding the sale of its lithium assets to Li3.

As quoted in the press release:

Under the terms of the proposed transaction, New World will transfer its lithium assets, consisting of its interests in Pastos Grandes lithium brine project located in Bolivia as well as its 19% interest in Perfect Lithium Corp., a developmental stage company formed to fund novel research technology and development of lithium powders used in all lithium ion batteries, to Li3 in exchange for such number of common shares as is equal to 22.5% of the issued and outstanding shares of Li3 (the “Consideration Shares”).

Click here to read the New World Resource Corp. (TSXV:NW) press release.