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Callinex Options Neuron Graphite Project to Global Li-Ion Graphite
Oct. 30, 2017 08:51AM PST
Battery MetalsCallinex Mines (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF Callinex is pleased to announce that it has signed an option agreement with Global Li-Ion Graphite (“LION”) (CSE: LION) whereby LION can acquire a 100% interest in the Neuron Graphite Project (the “Project”) located in Northern Manitoba by paying $200,000 in cash and issuing 2,000,000 shares. Callinex will receive initial …
Callinex Mines (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF Callinex is pleased to announce that it has signed an option agreement with Global Li-Ion Graphite (“LION”) (CSE: LION) whereby LION can acquire a 100% interest in the Neuron Graphite Project (the “Project”) located in Northern Manitoba by paying $200,000 in cash and issuing 2,000,000 shares.
Callinex will receive initial considerations of approximately $1.1 million which consists of $200,000 cash and 1,000,000 shares within three days.
Callinex will receive initial considerations of approximately $1.1 million which consists of $200,000 cash and 1,000,000 shares within three days.
Max Porterfield, President and CEO, stated:
“We are pleased to have reached an agreement with Global Li-Ion Graphite on the Neuron Project, a non-core asset within our project portfolio. This transaction strengthens our balance sheet and provides our shareholders upside to the development of the high-grade graphite project.”