Hertz Lithium Inc. Announces Acquisition of Canuck Lithium Corp.

Hertz Lithium Inc. Announces Acquisition of Canuck Lithium Corp.

Hertz Lithium Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the "Company") is pleased to announce that, further to its news release on October 3, 2023, the Company has completed the acquisition (the "Acquisition") of 100% of the issued and outstanding common shares in the capital of Canuck Lithium Corp. ("Canuck"). The Acquisition was completed pursuant to the terms and conditions of a share exchange agreement (the "Definitive Agreement") entered into among the Company, Canuck, and the shareholders of Canuck (the "Canuck Shareholders").

Hertz now owns 100% of the ACDC Project, located in the emerging hard rock lithium district in James Bay, Quebec, Canada. There are approximately 135 historical references to pegmatite outcrops that have never been evaluated or sampled for their lithium potential on the Property according to the Quebec Government's SIGEOM Database (Figure 3).

The ACDC property encompassing 516 contiguous mineral claims spanning 265 square kilometers, located contiguous to Rio Tinto's optioned Kaanaayaa Lithium Project (Figure 1) as well as 26 km southeast of the Corvette Lithium Project owned by Patriot Battery Metals with an inferred mineral resource of 109.2 Mt at 1.4% Li2O¹ and 60 km west of Winsome Resources' Adina Lithium property (Figure 2). The growing James Bay lithium district also hosts Nemaska's Whabouchi Project, with a Mineral Resource of 36.6 Mt at 1.3% Li2O², and a proposed mine life of 33 years. Additionally, Allkem's James Bay Lithium Project has a Mineral Resource of 40.3 Mt at 1.4% Li2O and is proposed to produce an average of 321 Kt of spodumene concentrate per year over a 19-year mine life³.

Hertz has engaged with Mercator Geological Services to follow up on the initial priority targets within the 12 zones identified on the property. The four-person crew will conduct prospecting, mapping and sampling in an effort to locate spodumene within enriched mineralized zones on the property.

Following the completion of this initial field work, the Company intends to engage Dahrouge Geological Consulting Ltd. and supplement these efforts with an aerial Light Detection and Ranging (LiDAR) Survey (the "Survey") and high-resolution ortho imagery for an enhanced understanding of the AC/DC Project's lithology and further confirm areas of priority to follow up on during 2024's exploration season. The Survey is designed to produce a sub-metric scale topographic model of the ground surface and high-resolution imagery with less than 20 cm pixel resolution. Pegmatite structures occur as elongated bodies, often relatively more resistant to erosion than their surrounding wall-rock and can form subtle elongated ridge like features. These discrete topographic highs and other geological features of interest can be identified through analysis of the high-resolution remote sensing datasets even in areas of thick vegetation.

Kal Malhi, CEO states, "We are pleased to have completed this acquisition quickly and efficiently before the winter sets into northern Quebec. Our plan is to send a ground team to the ACDC property for some immediate groundwork to aid in building our exploration program for 2024. We look forward to reporting on these efforts in the coming weeks as well as additional developments in the Company's portfolio of assets."

Cannot view this image? Visit: https://images.newsfilecorp.com/files/9656/185198_a85a1f4af4c9a8d6_002.jpg

Figure 1: AC/DC Lithium Project and adjacent project optioned to Rio Tinto

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/185198_a85a1f4af4c9a8d6_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/9656/185198_a85a1f4af4c9a8d6_003.jpg

Figure 2: Regional map showing the location of the AC/DC Lithium Project in the James Bay Area, Quebec.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/185198_a85a1f4af4c9a8d6_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/9656/185198_a85a1f4af4c9a8d6_004.jpg

Figure 3: Mineralized Zones and Pegmatite (I1G) Observations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/185198_a85a1f4af4c9a8d6_004full.jpg

¹ Patriot Battery Metals' NI 43-101 Technical Report: Mineral Resource Estimate for the CV5 Pegmatite, Corvette Property, authored by Todd McCracken, P. Geo and Ryan Cunningham, M. Eng., P. Eng. (June 25, 2023).
² Nemaska Lithium NI 43-101 Technical Report: Report on the Estimate to Complete for the Whabouchi Lithium Mine and Shawinigan Electrochemical Plant, authored by Daniel Maguran, DRA/Met‐Chem Maxime Dupéré, SGS Rock Gagnon, DRA/Met‐Chem James Anson, Hatch Anthony Boyd, NORAM Andre‐Francois Gravel, DRA/Met‐Chem Jeffrey Cassoff, BBA Ewald Pengel, DRA/Met‐Chem Pierre Girard, Hatch Dominic Tremblay, SNC‐Lavalin (May 31, 2019).
³ Galaxy Lithium Preliminary Economic Assessment, NI 43-101 Technical Report: James Bay Lithium Project Ontario, Canada, authored bay Joel Lacelle, P.Eng., G Mining Services Inc. Antoine Champagne, P.Eng., G Mining Services Inc. Glen Cole, P.Geo., SRK Consulting Inc. Christopher Larder, P.Eng., Wave International Darrin Johnson, P.Eng., Golder Associates Ltd João Paulo Lutti, P.Eng, Golder Associates Ltd Simon Latulippe, P.Eng., WSP Canada Inc. (March 15, 2021)

Terms

Pursuant to the terms of the Definitive Agreement, as consideration for the acquisition of 100% of the issued and outstanding common shares of Canuck the Company issued an aggregate of 23,150,001 common shares in the capital of the Company (the "Consideration Shares") pro rata to the Canuck Shareholders at a deemed price of $0.25 per Consideration Share. The Consideration Shares were issued pursuant to the Take-Over Bid and Issuer Bid prospectus exemption set forth in Section 2.16 of National Instrument 45-106 – Prospectus Exemptions and are therefore not subject to any restrictions on resale.

The Consideration Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Canuck

Canuck is a Quebec based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company's flagship lithium exploration project is known as the AC/DC property encompassing 516 contiguous mineral claims spanning 265 square kilometers, located 26 km southeast of the Corvette Lithium Project owned by Patriot Battery Metals.

About Hertz Lithium Inc.

The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company's lithium exploration projects include, the Lucky Mica Project, is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil. The Company is also working with Penn State University's College of Earth and Mineral Science department to develop a novel patent-pending hard rock lithium extraction technology.

For further information, please contact Mr. Kal Malhi or view the Company's filings at sedarplus.ca.

On Behalf of the Board of Directors

Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca

Cautionary Statement Regarding "Forward-Looking" Information

All information contained in this news release with respect to the Company and Canuck was supplied by the parties, respectively, for inclusion herein, and the Company and its respective directors and officers have relied on Canuck for any information concerning Canuck.

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185198

News Provided by Newsfile via QuoteMedia

HZ:CC
The Conversation (0)
Hertz Energy Announces Share Consolidation

Hertz Energy Announces Share Consolidation

Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the "Company") announces that, effective December 12, 2024, the Company will consolidate its common shares (the "Shares") on a four (4) for one (1) basis (the "Consolidation").

The Consolidation is subject to acceptance from the Canadian Securities Exchange, which will be evidenced by dissemination of a bulletin advising of the date of the Consolidation. The name of the Company and trading symbol will remain the same after the Consolidation. The new CUSIP number will be 42804X206 and the new ISIN number will be CA42804X2068 for the post-Consolidation Shares.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Hertz Energy Inc. Announces Resignation Of Director

Hertz Energy Inc. Announces Resignation Of Director

(TheNewswire)

Hertz Energy Inc.


News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Hertz Energy Clarifies IR Agreement

Hertz Energy Clarifies IR Agreement

Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1)  ("Hertz" or the "Company") at the request of the Canadian Securities Exchange, provides the following clarifying news release with respect to the investor relations agreement entered into with Outside The Box Capital Inc.

Outside the Box

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Hertz Energy Acquires Lake George Antimony Property in New Brunswick

Hertz Energy Acquires Lake George Antimony Property in New Brunswick

Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1) ("Hertz" or the "Company") is pleased to announce the acquisition of the Lake George Antimony Property ("Lake George" or the "Property") located in the Province of New Brunswick. The Property is located in the southwestern part of the province, approximately 30 km southwest of the city of Fredericton.

The Property is comprised of 93 mineral claims within two claim blocks recently staked by the Company for a total area of approximately 2,104.5 hectares. The Property surrounds the past-producing Lake George Antimony Mine ("Lake George Mine") and is considered an exploration-stage Antimony-Gold (Sb-Au) prospect located immediately along strike to the southwest and northeast, as well as downdip to the north of the historical Lake George Mine. The Property benefits from excellent road access, hydroelectric power, and nearby available personnel for field and exploration activities.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Hertz Energy Begins Exploration at Harriman Antimony Property in Québec

Hertz Energy Begins Exploration at Harriman Antimony Property in Québec

Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) ("Hertz" or the "Company") is pleased to announce the start of exploration programs at the Harriman Antimony Property ("Harriman Property" or the "Property") comprised of 49 mineral claims (approximately 2,500 hectares) located in the Province of Québec beginning the week on September 16, 2024.

The Harriman Property is an exploration stage antimony project located approximately 17 km northeast of the town of New Richmond in the Gaspé Region of Québec (Figures 1, 2). The Gaspé Region is known for a variety of significant mineral deposits, most notably the Mine Gaspé Copper Mine, currently being developed by Osisko Metals. The Harriman Property benefits from good road access, hydroelectric power, port access, and nearby available manpower.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery

Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery

Smaller and simpler bismuth circuit with high metal recoveries align with new market demand

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
  OR FOR DISSEMINATION IN THE UNITED STATES

Brunswick Exploration Inc. (" Brunswick " or the " Corporation ") (TSX-V: BRW, OTCQB: BRWXF) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc., to act as co-lead agent and sole bookrunner along with Canaccord Genuity Corp. as co-lead agent (collectively, the " Agents "), in connection with a "best efforts" private placement (the " Marketed Offering ") for aggregate gross proceeds of up to C$2,500,000 from the sale of (i) units of the Corporation (the " LIFE Units ") at a price of C$0.13 per LIFE Unit (the " Offering Price ") and (ii) units of the Corporation (the " Non-LIFE Units ", and collectively with the LIFE Units, the " Offered Securities ") at a price of C$0.15 per Non-LIFE Unit. A strategic investor has made a lead order to subscribe for Non-LIFE Units under the Offering.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
SAGA Metals Extends Claims at the Radar Ti-V-Fe Project --Securing the Entire Titanomagnetite-Bearing Intrusion

SAGA Metals Extends Claims at the Radar Ti-V-Fe Project --Securing the Entire Titanomagnetite-Bearing Intrusion

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company specializing in the discovery of critical minerals, is pleased to announce the addition of 97 new claims covering 2,425 hectares, increasing the total area of the Radar Ti-V-Fe Project to 24,175 hectares.

The Company's 100%-owned Radar Property is strategically located just 10 kilometres from the coastal city of Cartwright, Labrador. The location offers excellent infrastructure advantages, including:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
American Salars Starts Sampling at 100% Owned Brazilian LCT Pegmatite Project, with Past Samples Hitting 3.72% Li2o and Significant Ree Values

American Salars Starts Sampling at 100% Owned Brazilian LCT Pegmatite Project, with Past Samples Hitting 3.72% Li2o and Significant Ree Values

(TheNewswire)

American Salars Lithium Inc

VANCOUVER, BC TheNewswire - MAY 7 th 2025 American Salars Lithium Inc. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) announces that it has commenced a Phase 2 sampling program on its 100% owned, highly prospective 18,083 Hectares (180 sq km) Hardrock LCT ("Lithium-Cesium-Tantalum") Pegmatite Project including Rare Earth Elements ("REEs") and Critical Minerals (the "Jaguaribe Project ").

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Albemarle Announces 126th Consecutive Quarterly Common Stock Dividend

Albemarle Announces 126th Consecutive Quarterly Common Stock Dividend

The Board of Directors of Albemarle Corp. (NYSE: ALB) announced today that it declared a quarterly common stock dividend of $0.405 per share. This marks Albemarle's 126 th consecutive quarterly cash dividend.

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

The dividend, which has an annualized rate of $1.62 , is payable July 1, 2025 , to shareholders of record at the close of business as of June 13, 2025 .

About Albemarle  
Albemarle Corp. (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com , LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp .

Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

Forward-Looking Statements

This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, including, without limitation, statements related to future dividends and results, which may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors that could cause actual results to differ materially from the statements expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; expected market pricing of lithium and spodumene and other underlying assumptions and our 2025 outlook considerations; adverse changes in liquidity or financial or operating performance; changes in the demand for our products or the end-user markets in which our products are sold and the other factors detailed from time to time in the reports we file with the U.S. Securities and Exchange Commission, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Media Contact: Peter Smolowitz, +1 (980) 308-6310, media@albemarle.com  
Investor Relations Contact: +1 (980) 299-5700, invest@albemarle.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-announces-126th-consecutive-quarterly-common-stock-dividend-302447633.html

SOURCE Albemarle Corporation

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×