Consolidated Lithium Metals Inc. Signs Definitive Agreement with SOQUEM to Earn up to 80% Undivided Interest in the Kwyjibo Rare Earth Project, Québec

Core Viewpoint - Consolidated Lithium Metals Inc. has entered into a binding definitive agreement with SOQUEM Inc. to acquire an option for up to 80% interest in the Kwyjibo Rare Earth Project, which is strategically located in Québec, Canada [1][10]. Transaction Summary - Phase I involves CLM acquiring a 60% undivided interest in the Project, with total payments and share issuances amounting to C$23.15 million over five years [2]. - Phase II allows CLM to earn an additional 20% interest, bringing the total to 80%, with an additional C$22.00 million in payments and share issuances over three years [4]. Financial Breakdown - In Phase I, the financial commitments include C$5.65 million in cash, C$5.50 million in common shares, and C$12.00 million for project development [5]. - In Phase II, the commitments consist of C$4.50 million in cash, C$4.50 million in common shares, and C$13.00 million for advancing project milestones [6]. Project Details - The Kwyjibo Rare Earth Project hosts an Iron Oxide Copper Gold (IOCG)-style mineral system with significant rare earth elements, particularly neodymium, praseodymium, dysprosium, terbium, and yttrium [8]. - The Project is well-positioned near existing infrastructure, including the QNS&L rail line and the Port of Sept-Îles, and is expected to benefit from access to Québec's hydroelectric power grid [8]. Management Commentary - The CEO of CLM emphasized the strategic partnership with SOQUEM, highlighting the rising global demand for rare earth elements and the potential for the Project to become a stable supplier for various supply chains [10]. Regulatory and Community Engagement - The agreement includes provisions for consultations with the Innu of Takuaikan Uashat mak Mani-utenam and aims to leverage Québec's established permitting framework to facilitate project development [11].