HERTZ LITHIUM INC. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) has announced the acquisition of an option agreement with Sirios Resources Inc. to potentially own 100% of the Maskwa Lithium Property located in Quebec.
Details of the Option Agreement
To fully acquire the Option, Hertz must meet several financial and exploration milestones. This includes payments totaling $200,000 and incurring exploration expenditures of up to $2,250,000 by the end of 2026. Upon option exercise, Hertz will also provide a 1.5% NSR royalty to Sirios Resources.
Lithium Exploration Commitments
Hertz must validate drilling results showcasing a lithium concentration of over 1% Li2O to proceed with the purchase of the mining rights for non-critical minerals. The agreement stipulates further conditions, including share issuance subject to a four-month hold period under Canadian securities laws.
About Hertz Lithium Inc.
As a mineral exploration entity based in British Columbia, Hertz is actively engaged in lithium projects across North America and Brazil. Working alongside Penn State University, Hertz is developing innovative extraction technology for hard rock lithium.
CEO and Director Kal Malhi is available for contact at (604) 805-4602 or via email at firstname.lastname@example.org. Shares resulting from the agreement will adhere to a mandatory hold period under applicable laws.
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