Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) has finalized the purchase of significant exploration territories, further enhancing its position in the Canadian lithium market.
Completion of Asset Acquisition
Targa has achieved a milestone by acquiring a 100% interest in five lithium projects spanning 137,000 hectares across Quebec and Ontario. These properties, purchased from a group of vendors and 1384025 B.C. Ltd, known as Northern Lithium, affirm Targa’s growing footprint in the lithium exploration space.
Targa issued 7,500,001 Consideration Shares to the vendors, in addition to granting a 1% production royalty to Northern Lithium. Payments totaling $377,860.86 have been made, with another similar amount scheduled for payment by June 15, 2024.
Kenorland Minerals Share Issuance
As part of the original agreement for the Opinaca and Superior projects, Targa has also distributed an additional 1,459,918 shares to Kenorland Minerals, equating to 9.9% of the recently closed financing shares.
As a dominant player in the Canadian lithium exploration sector, Targa Exploration Corp. manages an impressive portfolio. The company’s reach includes fifteen projects across Quebec, Ontario, Manitoba, and Saskatchewan, embodying over 400,000 hectares primed for lithium discovery.
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