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Lift Closes Transaction With Azimut for 50% Interest in Galinée Property
Globenewswire· 2026-02-18 08:15
Core Viewpoint - Li-FT Power Ltd. has successfully closed the acquisition of a 50% interest in the Galinée property from Azimut Exploration Inc., which is strategically located adjacent to the Adina lithium deposit owned by Winsome Resources Ltd. [1][3] Group 1: Acquisition Details - The acquisition was completed under the Azimut Agreement, where Li-FT Power issued 2,000,000 common shares and granted a 1.4% net smelter return royalty on the Galinée Property [2] - A deferred consideration of $1,500,000 is payable in cash or common shares, contingent upon the completion of an economic study or within 18 months following the closing [2] Group 2: Strategic Implications - The acquisition of the Galinée property is a step towards fulfilling the conditions for acquiring Winsome Resources, aiming to unlock the full value and scale of the Adina lithium deposit [3] - Li-FT Power is focused on lithium pegmatite projects in Canada, with its flagship project being the Yellowknife Lithium Project, alongside other early-stage exploration properties in Quebec [3]
Powermax Minerals Completes Initial Milestone Payments Related to the Option Agreement to Acquire Pinard Rare Earths Project
Newsfile· 2025-11-13 11:00
Core Insights - Powermax Minerals Inc. has completed initial milestone payments related to the option agreement to acquire the Pinard Rare Earths project, including the issuance of 160,000 common shares and an initial cash payment of $18,000 to the property optionors [1][2]. Option Agreement Details - The option agreement allows the company to acquire a 100% interest in the Pinard Rare Earths project, subject to a 1.5% net smelter returns royalty (NSR) [1][2]. - The total payments to the optionors include: - Initial cash payment of $18,000 upon signing - 160,000 common shares within 7 business days of receiving approval from the Canadian Securities Exchange - Additional cash payments of $16,000, $24,000, and $32,000 on the 1st, 2nd, and 3rd anniversaries of the effective date, respectively - Total cash and share payments amount to 320,000 shares and $90,000 [2]. Project Location and Characteristics - The Pinard Rare Earths project is located in northern Ontario, Canada, approximately 70 km north-northeast of Kapuskasing, covering 5,178 hectares across 255 contiguous mining claims [3]. - The project area is accessible via an all-weather access road suitable for 4×4 vehicles [3]. Geological Context - The Pinard Intrusive Rock Complex is characterized by alkaline igneous rocks, including nepheline syenites and peralkaline granites, typical of the Kapuskasing Sup-Province Geology [4]. - The geological setting is associated with plate tectonic activities, which may enhance the potential for rare earth element deposits [4]. Company Overview - Powermax Minerals Inc. is focused on advancing rare earth element projects and holds options to acquire multiple properties, including the Cameron REE Property in British Columbia and the Atikokan REE Property in Ontario [7]. - The company also owns a 100% interest in the Ogden Bear Lodge Project located in Wyoming [7].
Kobrea Completes Next Payment Under Property Option Agreement for Its Western Malargüe Copper Projects - Mendoza Province, Argentina
Newsfile· 2025-08-13 12:00
Core Viewpoint - Kobrea Exploration Corp. has completed a payment under its option agreement for the Western Malargüe Copper Projects in Argentina, indicating progress in its acquisition strategy for mineral exploration [2][3]. Group 1: Payment Details - The recent payment consisted of USD$350,000 in cash and the issuance of 105,000 common shares, marking the first portion of the third payment under the Option Agreement [3]. - The common shares issued will be subject to a hold period of four months and one day following issuance, in accordance with applicable securities laws [3]. Group 2: Option Agreement Terms - Under the Option Agreement, Kobrea can acquire up to a 100% interest in the Western Malargüe Copper Projects, which are subject to a 1.5% net smelter return royalty for the optionors [4]. - The total consideration for the acquisition includes the issuance of 3,500,000 common shares and cash payments totaling USD$6,760,000, to be made in stages over a five-year period [4]. Group 3: Project Overview - Kobrea holds the right to earn a 100% interest in seven projects covering 733 km² in southwestern Mendoza Province, Argentina, which are considered highly prospective for porphyry copper and copper-gold deposits [5]. - The projects have outlined numerous porphyry copper targets with significant geological features, including hydrothermal alteration footprints and anomalous geochemistry [5].