Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR) has announced the successful acquisition of 1439266 BC Ltd., securing a significant foothold in Brazil’s Lithium Belt.

Details of the Acquisition

Canadian Palladium has issued 12 million common shares at $0.315 each to acquire the entire equity of 143 BC, owner of 15 mineral tenements spanning 24,427.28 hectares in the East Brazilian ‘Lithium Belt’. This region hosts several active lithium mines and advanced exploration projects.

Shareholders of 143 BC will receive $200,000 in cash within three months, alongside an assumption of $100,000 debt related to the Property. The issued securities are under a statutory hold period tied to the Company’s Business Acquisition Report submission.

Strategic Significance

The Property’s strategic location places Canadian Palladium in a prime position for lithium mining, amidst a flourishing market for electric vehicle batteries. Sigma Lithium’s Groto do Cirilo mine and Atlas Lithium’s Neves project are noteworthy neighbors within this prolific lithium terrain.

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