Edison Lithium Announces Termination of LOI for Sale of Majority Stake in Argentinian Lithium Properties

Edison Lithium Announces Termination of LOI for Sale of Majority Stake in Argentinian Lithium Properties

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") announces the termination of its previously announced letter of intent with Meteor Energy, LLC, for the sale of 100% of the Company's interest in its Argentina subsidiary, Resource Ventures S.A. ("ReVe"). ReVe controls the rights to prospective lithium brine claims in the province of Catamarca, Argentina. The Company is now in discussions with several other parties interested in acquiring the Company's Argentinian lithium properties, but has not reached any further sale agreements as at the date of this news release.

The Company also announces that due to challenging market and financing conditions it is postponing the completion of its previously announced spin-out by way of plan of arrangement involving the Company's wholly-owned subsidiary, Edison Cobalt Corp. (the "Spin-Out") until further notice. The Spin-Out received court and shareholder approval earlier this year and remains subject to final acceptance by the TSX Venture Exchange.

About Edison Lithium Corp.

Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.

On behalf of the Board of Directors:

"Nathan Rotstein"

Nathan Rotstein
Chief Executive Officer and Director

For more information please contact:

Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Disclaimer: This news release contains certain forward-looking statements. Statements that are not historical facts, including statements about Edison's beliefs and expectations, are forward- looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "will be", "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue,", "proposes", "contemplates", "is/are likely to" or other similar expressions. All information provided in this news release is as of the date of this news, and the Company undertakes no duty to update such information, except as required under applicable law.

Forward-looking statements in this press release relate to, among other things: further sale agreements and successful negotiation with a new interested party for the disposition and the anticipated timing of completion of the spin-out. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: determination of acceptable terms for a future transaction with a new interested party and the improvement of market and financing conditions required to complete the spin-out transaction. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212234

News Provided by Newsfile via QuoteMedia

EDDY:CC
Edison Lithium

Edison Lithium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Edison Lithium

Edison Lithium


Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - EDDY

Canadian Investment Regulatory Organization Trade Resumption - EDDY

Trading resumes in:

Company: Edison Lithium Corp.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Edison Lithium Arranges Sale of Interest in Argentinian Lithium Properties for US$3.5 Million

Edison Lithium Arranges Sale of Interest in Argentinian Lithium Properties for US$3.5 Million

Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that, effective November 12, 2024, it has accepted a non-binding purchase offer letter from Mava Gasoil LLC ("Mava"), a corporation based in Houston Texas, for the sale of 100% of the interest in the Company's Argentina subsidiary, Resource Ventures S.A. ("ReVe"), in consideration for USD$3,500,000. One of the LEXI claims owned by ReVe and the royalties on that mining property, and the PINAC mining properties owned by ReVe are excluded from the sale and will be retained by Edison.

ReVe controls the rights to prospective lithium brine claims in the province of Catamarca, Argentina. The claims are principally located in the two geologic basins known as the Antofalla Salar and the Pipanaco Salar. ReVe's assets on closing of the disposition to Mava will include 30 mining concessions covering approximately 104,538 hectares area in Catamarca Province, Argentina. The Company will retain and focus its Argentinian efforts on 8 mining concessions covering approximately 35,000 hectares area in Catamarca Province, Argentina, which are not subject to the sale and amount to approximately 25% of the claims currently held by ReVe.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Edison Lithium Files Technical Report for Sodium Brine Properties in Saskatchewan

Edison Lithium Files Technical Report for Sodium Brine Properties in Saskatchewan

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that it has filed a National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant Technical Report entitled "Alkali Mineral Dispositions, Saskatchewan" dated and effective September 17, 2024 (the "Report") under the Company's profile on SEDAR+ at www.sedarplus.ca. The Report was independently prepared by Lynn I. Kelley, P. Geo., and is also available on the Company's website at www.edisonlithium.com.

The Company, looking towards a clean-energy future, views sodium-ion batteries as having a place on the future energy landscape, and believes the sodium sulfate found in the alkali lakes of the Great Plains of southern Saskatchewan, as a highly-concentrated and readily-available source of sodium, may be a feasible source for production of some of the various sodium compounds required for battery production.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Edison Lithium Expands Portfolio with Acquisition of Additional Sodium Brine Claim in Saskatchewan

Edison Lithium Expands Portfolio with Acquisition of Additional Sodium Brine Claim in Saskatchewan

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison", "Edison Lithium" or the "Company") announces that it has entered into an asset purchase agreement (the "Agreement") with Globex Mining Enterprises Inc. ("Globex") dated the 8th day of April, 2024, pursuant to which the Company shall acquire from Globex the rights to alkali disposition A-4593 (see Figure 1) located in Whiteshore Lake in the Province of Saskatchewan (the "Alkali Disposition").

Edison's recent acquisitions of sodium brine claims is driven by interest in Sodium-Ion battery formulations. For information on Sodium-Ion batteries, visit www.sodiumbatteryhub.com.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Edison Lithium Receives Court Approval for Edison Cobalt Spin-Out

Edison Lithium Receives Court Approval for Edison Cobalt Spin-Out

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that on March 1, 2024, the Supreme Court of British Columbia issued its final order approving the Company's previously announced plan of arrangement (the "Arrangement") involving its wholly-owned subsidiary, Edison Cobalt Corp. ("Edison Cobalt"). For details regarding the Arrangement, see the news releases of the Company dated March 28, 2023, July 13, 2023, November 28, 2023, December 7, 2023, February 1, 2024 and February 27, 2024.

The Company will announce the share distribution record date and the exact number of Edison Cobalt shares issuable at a later date. The Arrangement remains subject to final acceptance by the TSX Venture Exchange ("TSXV").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
E-Power Resources Inc. Announces Closing of a Third and Final Tranche of Oversubscribed Private Placement

E-Power Resources Inc. Announces Closing of a Third and Final Tranche of Oversubscribed Private Placement

E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") announces that it has closed a third and final tranche of the private placement previously announced on September 24, 2024 (the "Private Placement"). The oversubscribed private placement was originally announced for $420,000, but a total of $526,264 was raised in all three tranches.

An aggregate of 3,150,000 units (the " Units") of the Company were issued in the third and final tranche at a price of $0.05 per Unit for gross proceeds of $157,500, each Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one-half common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 60 months from the closing date. (the "Offering").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
SAGA Metals Announces Assay Results from North Wind Iron Ore Project

SAGA Metals Announces Assay Results from North Wind Iron Ore Project

Saga Metals Corp. (" TSXV: SAGA ") (" FSE: 20H" ) (" SAGA " or the " Company "), a North American exploration company focused on discovering critical minerals, is pleased to announce the results from its initial field program at the North Wind High-Purity Iron Ore project in west central Labrador, Canada.

Key Field Program Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Mawson Finland Limited Presents Downhole EM  Geophysics: Multiple Deep Conductors Newly Identified at Rajapalot

Mawson Finland Limited Presents Downhole EM Geophysics: Multiple Deep Conductors Newly Identified at Rajapalot

Mawson Finland Limited ("Mawson" or the "Company") (TSXV:MFL) is pleased to announce results from downhole electro-magnetic "DHEM" geophysical surveys conducted at the Rajapalot gold-cobalt project in Finland

Highlights:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement

Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQX Venture Market: LILIF

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
GMV Minerals Inc. Intersects Two Thick Lithium Claystone Horizons Testing 1,250 Hectares at Daisy Creek Project in Lander County, Nevada

GMV Minerals Inc. Intersects Two Thick Lithium Claystone Horizons Testing 1,250 Hectares at Daisy Creek Project in Lander County, Nevada

GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that preliminary results from the four drill holes completed on the Daisy Property are very encouraging with a thickening in the claystone horizons and increasing in the grade towards the south. The southern-most hole, DC24-1 intersected three distinct claystone horizons totaling 48.7 m of lithium enrichment starting 76.2 m down hole

All holes were 5.5-inch RC holes drilled vertically.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Altech Batteries Ltd  $4M Placement to Advance Battery Projects

Altech Batteries Ltd $4M Placement to Advance Battery Projects

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) announces a capital raising of $4 million, comprising the issue of 66,666,667 fully paid ordinary shares in the capital of the Company at an issue price of $0.06 per Share.

Highlights

- Binding Commitments to raise $4 million

- Placement oversubscribed

- Issue price of $0.06 per share, a 50% premium to recent Entitlements Issue on 7 August 2024

- Funds will be used to further progress the CERENERGY(R) and Silumina AnodesTM Projects

This price is a premium of 50% of the issue price to the Company's shareholders in the recent Entitlement Offer conducted on 7 August 24. Participants in the placement will also receive free attaching listed options (ASX:ATCOC) of 1 option for every 1 share issued with an exercise price of $0.06 and expiry date of 31 December 2025.

It is proposed that the Shares and Options under the Placement will be issued on 22 November 2024 and will be issued out of the Company's available capacity under Listing Rules 7.1.

The Placement was managed by Evolution Capital. The costs associated with the Placement was a 6% fee on all funds raised. Evolution Capital will also receive 8,000,000 ATCOC options for managing the Placement.

The funds raised under the Placement will be used for:

- Securing project finance and bank due diligence process

- Securing offtake for CERENERGY(R) project

- CERENERGY(R) environmental and project permitting

- Completion of fabrication of second 60kWh battery prototype for CERENERGY(R) project

- Finalise commissioning of the Silumina AnodesTM pilot plant

- Preliminary assessment into a 4 GWh factory (Giga factory)

- Corporate costs and working capital.

Managing Director Mr Iggy Tan stated "We are encouraged by the strong market interest in our current initiatives. In August 2024, we conducted an Entitlements Issue at $0.04 per share that provided our existing shareholders with a fair opportunity to participate previously. The current placement at $0.06 per share represents a 50% premium over the recent Entitlements Issue price and Altech does not intend to conduct another Entitlement Issue at the higher price.

This capital raise comes at an exciting juncture for Altech as it advances the commercialisation of its 120MWh CERENERGY(R) battery project and nears commissioning of the Silumina Anodes(TM) pilot plant. A portion of the funds will also be allocated to a preliminary study for a larger 4 GWh battery facility, marking the next significant step towards commercialisation".

To view the intended use of funds for the $4M raised, please visit:
https://abnnewswire.net/lnk/7B3ZY5B0



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Edison Lithium

Edison Lithium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×