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M3 Metals Corp. (TSXV: MT,OTC:MLGCF) (OTCQB: MLGCF) (FSE: X0V) (the "Company" or "M3 Metals") has closed its previously announced agreement to sell the remaining 50% interest in the Texas Springs Claims, by receiving 1,200,000 common shares of Surge Battery Metals Inc. ("Surge Battery").
By way of background, effective July 26, 2023, the Company entered into a mineral property option and joint venture agreement (the "M3M Option Agreement") with Surge Battery, an Exchange listed company. The M3M Option Agreement granted Surge Battery the option to earn up to an 80% interest in and to (at that time) 253 mineral claims held by M3 ("M3M Texas Springs Claims") that are contiguous with the Surge Battery's Nevada North Lithium Project.
In August 2024, the Company entered into a mineral property option purchase and sale agreement ("M3M Purchase Agreement") with Surge Battery to dispose the remaining 50% interest held by the Company for 1,200,000 common shares of Surge Battery. The M3M Purchase Agreement as amended superseded the M3M Option Agreement, was subject to Exchange approval, and was to terminate if closing of the M3M Purchase Agreement has not occurred on or before June 30, 2025. This June 30, 2025 date was extended by way of further amendment to the M3M Purchase Agreement to August 30, 2025.
M3 Metals Corp. is a Canadian listed company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals' website at www.m3metalscorp.com. You may also email info@m3metalscorp.com or call investor relations at (604) 669-2279.
M3 Metals Corp.
"Kosta Tsoutsis"
Kosta Tsoutsis, CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in Canada, the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264167
