Skip to content

Lithium Ionic Adjusts Payment Plan for Vale and Borges Claims Acquisition

Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) has updated its purchase agreements for acquiring Itinga properties in Minas Gerais, Brazil, affecting the Vale and Borges claims.

Lithium Ionic’s Vale Claim Update

Lithium Ionic, through MGLIT, revised the Vale do Lítio Agreement on January 20, 2023. The company now owns 7.4% of the Vale Claims and has reshaped the payment schedule for the remaining 92.6%, with two key payments planned: one on July 20, 2024, and another on January 20, 2025.

Amendments to Borges Claims Agreement

On December 5, 2022, MGLIT made a deal with Mineração Borges Ltda. for three mining claims. Following amendments, a payment is set for March 9, 2024, followed by a significant payment upon completion of a critical mineral resource estimate by June 5, 2025.

About Lithium Ionic Corp.

Lithium Ionic is a pioneering Canadian mining company, developing lithium properties in Brazil’s emerging hard-rock lithium district in Minas Gerais. Their Itinga and Salinas projects are positioned in a region known for significant lithium production.

Information regarding the updates to the acquisition strategies for both the Vale and Borges claims showcases Lithium Ionic’s ongoing commitment to expanding its lithium mining operations.

The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

The image is randomly selected and doesn’t necessarily represent the company or the news below.

Click here for more Company News