Lithium Ionic Corp. reports that, further to its May 30, 2024 press release, its wholly owned subsidiary, Neolit Minerals Participações Ltda , has completed the acquisition of the remaining 15% of select Salinas properties , located within the Curralinho Pegmatite Field of the lithium-rich Araçuaí Pegmatite District, in Minas Gerais, Brazil .
Lithium Ionic now owns 100% of the Salinas group of properties . As consideration pursuant to the Transaction, the Company has paid the vendor: A cash payment of the Brazilian Real equivalent of US$2 million The issuance of 2.5 million shares of
Lithium Ionic Additionally, the Company is required to make a subsequent payment of the Brazilian Real equivalent of US$1 million by April 4, 2025. Please refer to the...