Lithium

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") is pleased to announce that it has settled outstanding indebtedness (the " Debt Settlement ") of the Company in the aggregate amount of ‎$377,772.09‎ (the " Debt "), pursuant to the terms of debt settlement agreements with three arm's length creditors and Abbey Abdiye, the Company's Chief Financial Officer (collectively, the " Creditors ").

In settlement of the debt, the Company has issued an aggregate of ‎2,158,696‎ units (the " Units ") of the Company. Each Unit consists of one common share in the capital of the Company (each, a " Share ") and ‎one-half of a common share purchase warrants (each whole warrant, a " Warrant "), with each ‎Warrant entitling the holder thereof to acquire one additional Share (each, a " Warrant ‎Share "), at an exercise price of $0.35 per Warrant Share, for a period of 24 months, provided ‎that if the volume weighted average trading price of the Shares on the Canadian Securities ‎Exchange (or such other securities exchange the Shares are then trading) is at a price greater ‎than $0.70 per Share for 10 consecutive trading days, then the expiry date of the Warrants ‎shall automatically accelerate and will expire on the date that is 30 days after the date that ‎notice of such acceleration is provided to the Warrant holders by way of press release by the ‎Company.

The Debt Settlement with Mr. Abbey Abdiye is a related party transaction pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 ") as Mr. Abdiye is the Chief Financial Officer of the Company.

With respect to the Debt Settlement with Mr. Abdiye, the Company has relied on the exemption from the valuation requirement pursuant to section 5.5(b) (Issuer Not Listed on Specified Markets) of MI 61-101 and from the minority shareholder approval requirement prescribed by section 5.7(1)(a) (Fair Market Value Not More Than 25 Per Cent of Market Capitalization) of MI 61-101.

All securities issued in connection with the Debt Settlement are subject to a statutory four month hold period in accordance with the policies of the CSE and applicable securities laws.

None of the securities to be issued in connection with the Debt Settlement have been or will be registered under the United States Securities Act of 1933, as amended (the " 1933 Act "), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.

The Company also announces that, subject to regulatory approval, it has granted (a) incentive stock options to certain directors, officers and consultants of the Company to acquire an aggregate of 1,400,000 common shares in the capital of the Company at an exercise price of $0.24 (the " Options "), such Options being fully vested as at the date of grant and exercisable for a five-year term expiring on October 4, 2027 and (b) an aggregate of 5,600,000 restricted share units (" RSUs ") to certain officers and consultants of the Company effective October 4, 2022, in accordance with the Company's amended and restated equity incentive plan.

About Spey Resources Corp.

Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II and Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.

For more information, please contact:

Nader Vatanchi
VP of Corporate Finance and Director
nader@speyresources.ca
778-881-4631

Cautionary Note Regarding Forward-Looking Statements

This news release includes forward-looking statements that are subject to risks and uncertainties, ‎‎‎‎including with respect to the settlement of the Debt owing by the Company to the Creditors through the issuance of securities and regulatory approval of the issuance of such securities . The Company ‎‎provides forward-looking statements for the purpose of conveying ‎‎information about current ‎‎expectations and plans relating to the future and readers are cautioned that ‎‎such statements may not be ‎‎appropriate for other purposes. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR profile at www.sedar.com. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

The CSE has not reviewed, approved, or disapproved the contents of this ‎press release.‎


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

SPEY:CC
spey resources

Spey Resources


Keep reading...Show less
SPEY RESOURCES CORP. ANNOUNCES BOARD APPOINTMENTS

SPEY RESOURCES CORP. ANNOUNCES BOARD APPOINTMENTS

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") is pleased to announce that Mr. José de Castro and Mr. Aaron Wong will each be joining the board of directors of the Company (the " Board "), effective November 18, 2022.

Mr. de Castro is a mining executive and chemical engineer with deep knowledge and experience in ‎international and Argentine mining operations, and project and commercial management. Mr. de Castro ‎specializes in process engineering, mining, resources management and operations work. Mr. de Castro has ‎held important operations and executive positions in mining organizations in Argentina and Chile, and ‎was involved in the design, construction and start-up of the FMC Corporation (now Livent Corp. (NYSE: ‎LTHM)) facilities in the 1990´s, holding the position of Lithium Carbonate and Ponds Superintendent. In ‎‎2009, Mr. de Castro was the Argentine Country Manager for Orocobre Ltd.(ASX: AKE), where he was ‎responsible for the feasibility, design, construction and start-up of their lithium brine project in the ‎Lithium Triangle, Argentina. Currently Mr. de Castro is a director and chief operating officer of NRG Metals ‎Inc., a junior resource company with two projects in Argentina Lithium Triangle.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
SPEY RESOURCES CORP. ANNOUNCES AMENDMENT TO KASLO OPTION AGREEMENT

SPEY RESOURCES CORP. ANNOUNCES AMENDMENT TO KASLO OPTION AGREEMENT

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company "), announces that the Company has amended the agreement pursuant to which the Company holds an option to acquire a 100% interest in the Kaslo Silver Property whereby the Company shall issue an additional 342,302 common shares in the capital of the Company (the "Shares") to the optionors in lieu of a $70,000 cash payment that was due by August 31 2022. The Shares shall bear a hold period of four month and one day from issuance.

About Spey Resources Corp.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Spey Resources Corp. Announces Results of Annual General and Special Meeting

Spey Resources Corp. Announces Results of Annual General and Special Meeting

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company "), is pleased to announce the results of voting at its annual general and special meeting of shareholders which was held on November 9, 2022, in Vancouver, British Columbia (the " Meeting "). The following matters submitted to shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, dated October 13, 2022 (the " Circular "), were approved by the requisite majority of votes cast at the Meeting:

  1. the election of Nader Vatanchi, Ian Graham, and Lawrence Hay as directors of the Company for the ensuing year;

  2. the appointment of Manning Elliot LLP, Chartered Professional Accountants as the Company's auditors for the ensuing year; and

  3. the re-approval of the Company's stock option plan.

During the Meeting, the shareholders also passed an amended motion setting the number of directors of the Company for the ensuing year at five (5).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
SPEY RESOURCES CORP. EXECUTES AGREEMENT FOR LITHIUM OFFTAKE WITH RICHLINK CAPITAL PTY LTD.

SPEY RESOURCES CORP. EXECUTES AGREEMENT FOR LITHIUM OFFTAKE WITH RICHLINK CAPITAL PTY LTD.

 Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey" or the "Company"), is pleased to announce that the Company has executed a letter of intent (the " LOI ") with Richlink Capital Pty Ltd. (" Richlink "), an investment bank servicing international institutions in the lithium markets. The LOI outlines the potential for the Company to supply up to 20,000 tonnes of lithium chloride annually to two of Richlink's clients from potential future production at the Company's Incahuasi Salar and Pocitos 2 Salar lithium brine projects in Salta province, Argentina.

The LOI contemplates that Richlink's clients would contract to purchase a minimum of 10,000 tonnes of lithium chloride of potential future production on a free on board basis from the port in Antofagasta, Chile. The current benchmark price quoted by Trading Economics is 577,500 yuan or USD equivalent $80375.78 per tonne as at November 4, 2022.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
SPEY RESOURCES CORP. ANNOUNCES ADDITION OF JOSE GUSTAVO DE CASTRO ALEM TO THE ADVISORY BOARD

SPEY RESOURCES CORP. ANNOUNCES ADDITION OF JOSE GUSTAVO DE CASTRO ALEM TO THE ADVISORY BOARD

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey" or the "Company") is pleased to announce the addition of José Gustavo de Castro Alem to the Company's advisory board. José is a mining executive and chemical engineer with deep knowledge and experience in international and Argentine mining operations, and project and commercial management. José specializes in process engineering, mining, resources management and operations work.

José has held important operations and executive positions in mining organizations in Argentina and Chile, and was involved in the design, construction and start-up of the FMC Corporation (now Livent Corp. (NYSE: LTHM)) facilities in the 1990s, holding the position of Lithium Carbonate and Ponds Superintendent. In 2009, José was the Argentine Country Manager for Orocobre Ltd.(ASX:AKE), where he was responsible for the feasibility, design, construction and start-up of their lithium brine project in the Lithium Triangle, Argentina.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Canada Silver Closes $1,573,000 Flow-Through Private Placement

Canada Silver Closes $1,573,000 Flow-Through Private Placement

(TheNewswire)

Canada Silver Cobalt Works Inc.

December 1, 2022 TheNewswire - Coquitlam, BC, Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") announces that the Company has closed a fully subscribed for non-brokered private placement raising gross proceeds of $1,573,000.17.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Marvel Makes Application in Preparation for Drilling on the Duhamel Ni-Cu-Co-pge Property, Lac St. Jean, Quebec

Marvel Makes Application in Preparation for Drilling on the Duhamel Ni-Cu-Co-pge Property, Lac St. Jean, Quebec

Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(MARVF:OTCQB); ("Marvel" or the "Company") is pleased to announce that an application has been made to the Provincial and Municipal governments for a Drill Program on the Duhamel Nickel-Copper-Cobalt-Platinum Group Property. In addition, notice has been sent to the Nitassinan de Mashteuiatsh First Nation for their review

Marvel Discovery Corp., Thursday, December 1, 2022, Press release picture

Figure 1. Regional location of the Duhamel Property

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
ACME Lithium Provides Update for Winter Drilling Program in Canada's Winnipeg River Pegmatite Region

ACME Lithium Provides Update for Winter Drilling Program in Canada's Winnipeg River Pegmatite Region

ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to provide a corporate update at its Shatford, Birse, and Cat-Euclid Lake project areas in the Winnipeg River pegmatite region. ACME's land holdings in southeastern Manitoba comprise approximately 17,000 acres or 70 square kilometres.

ACME completed an extensive summer exploration program employing remote sensing, structural geology, ground-based geological mapping, and geochemical sampling to localize targets for drilling. Our exploration focus is on spodumene-bearing LCT pegmatites that are a source for high quality lithium that can be converted to lithium carbonate.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fortune Minerals Announces Settlement of 2015 Debentures

Fortune Minerals Announces Settlement of 2015 Debentures

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

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that it has reached agreements (the " Settlement Agreements ") with the holders of its debentures issued in 2015 and amended in 2022 (the " 2015 Debentures "). With the Settlement Agreements in place, Fortune can now focus on advancing the NICO cobalt-gold-bismuth-copper critical minerals development project (" NICO Project ") in the Northwest Territories (" NWT ") and Alberta.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Electric Royalties Provides Update on Royalty Portfolio

Electric Royalties Provides Update on Royalty Portfolio

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide an asset update on its current royalty portfolio

Brendan Yurik, CEO of Electric Royalties, commented: "Despite the difficult equity markets in the past six months, it has been tremendously exciting to see progress continue across our portfolio, particularly at our lithium assets. Upon forecast restart in Q1 2023, Sayona Mining's North American Lithium (NAL) operation will become Canada's only producing lithium mine; NAL will seek to integrate millfeed from the Authier project on which we have a 0.5% gross metal royalty. We acquired the Authier royalty approximately two and a half years ago and the project has advanced substantially while lithium prices have climbed1. Our other lithium royalties, Seymour Lake and Cancet, continue to show promise, and we eagerly await the Seymour Lake preliminary economic assessment targeted for Q1 2023. Having one of the largest lithium royalty portfolios in the world, we're well positioned to benefit from the strong lithium market.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Noram Highlights Milestones During 2022

Noram Highlights Milestones During 2022

Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to review the Company's activities during 2022 and to highlight upcoming catalysts at its 100%-owned high-grade Zeus Lithium Project in Clayton Valley, Nevada

Highlights of 2022 Corporate Milestones:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×