Lithium Universe Ltd (ASX:LU7) has provided a market update on its recent activities.

Lithium Universe Ltd Performance Rights Update

The company announces the retention of performance rights by Mr. Fadi Diab, despite his resignation as director. Board approval allows Mr. Diab to keep these rights as compensation for significant contributions, ensuring continued association with the company.

Lithium Universe Ltd Engages in Canada Investment Act Process

Lithium Universe initiated the voluntary notification process under the National Security Review of Investments Regulations. This step aligns with the updated Investment Canada Act requirements, ensuring regulatory compliance without anticipated issues.

Lithium Universe Ltd Seeks Educational Partnership

Lithium Universe is actively pursuing collaboration with a Montreal educational institution. This partnership focuses on supporting the Becancour lithium refinery’s integration studies and enhancing lithium expertise in Quebec.

Update on Lithium Universe Ltd Exploration Projects

The company has reassessed its exploration assets. The Adina West and South (Quebec), Lefroy Lithium Project (Western Australia), and Margot Lake (Ontario) projects will be relinquished due to low prospectivity and cost concerns. The Voyager REE Project (Tasmania) will also be relinquished due to a shift in focus.

Future Plans for Apollo Lithium Project

Apollo Lithium Project remains the company’s sole exploration asset. Further assessments and fieldwork results will guide upcoming drilling programs, ensuring strategic resource development.

About Lithium Universe Ltd

Lithium Universe is led by Iggy Tan, known for expeditious lithium project development. The company’s mission is to establish a spodumene-producing mine in Quebec, leveraging its expertise for successful project execution.

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