NetworkNewsBreaks – Standard Lithium Ltd. (TSX.V
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Posted On: 05/15/2018 4:24:27 PM
NetworkNewsBreaks – Standard Lithium Ltd. (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) Enters Option Agreement to Acquire Additional Land in Bristol Dry Lake
Lithium-focused mining company Standard Lithium (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) this morning announced that it has entered into a license, exploration and option agreement to formalize the memorandum of understanding previously announced in October 2017. Per the agreement, Standard Lithium will acquire the rights to conduct lithium brine exploration activities on properties totaling approximately 23,940 acres located in San Bernardino County, California in the Bristol Dry Lake and Cadiz Dry Lake regions. Per the terms of the agreement, the company will acquire the right to conduct lithium brine exploration activities on the properties in consideration for cash payments and share issuances totaling $2,700,000 and 3,400,000 common shares over a sixty-month period. Standard Lithium will make an initial payment of $100,000 and issue 200,000 common shares to TETRA Technologies, Inc., a non-affiliated company, which is the underlying owner of the properties. All securities issued in the transaction will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws. The completion of this transaction is subject to the approval of the TSX Venture Exchange. “We’re very pleased to sign this Option Agreement with TETRA. Standard Lithium now has finalized agreements in place with the two permitted operators working in our California Lithium project area,” Standard Lithium COO and president Dr. Andy Robinson stated in the news release.
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Lithium-focused mining company Standard Lithium (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) this morning announced that it has entered into a license, exploration and option agreement to formalize the memorandum of understanding previously announced in October 2017. Per the agreement, Standard Lithium will acquire the rights to conduct lithium brine exploration activities on properties totaling approximately 23,940 acres located in San Bernardino County, California in the Bristol Dry Lake and Cadiz Dry Lake regions. Per the terms of the agreement, the company will acquire the right to conduct lithium brine exploration activities on the properties in consideration for cash payments and share issuances totaling $2,700,000 and 3,400,000 common shares over a sixty-month period. Standard Lithium will make an initial payment of $100,000 and issue 200,000 common shares to TETRA Technologies, Inc., a non-affiliated company, which is the underlying owner of the properties. All securities issued in the transaction will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws. The completion of this transaction is subject to the approval of the TSX Venture Exchange. “We’re very pleased to sign this Option Agreement with TETRA. Standard Lithium now has finalized agreements in place with the two permitted operators working in our California Lithium project area,” Standard Lithium COO and president Dr. Andy Robinson stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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