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Aberdeen International to Sell Remaining PLASA Investment to Lithium X Energy
TORONTO, ONTARIO--(Marketwired - June 29, 2017) - ABERDEEN INTERNATIONAL INC. ("Aberdeen" or the "Company") (TSX:AAB) has agreed to sell to Lithium X Energy Cor
About this update from Aberdeen International Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - June 29, 2017) - ABERDEEN INTERNATIONAL INC. (\"Aberdeen\" or the \"Company\") (TSX:AAB) has agreed to sell to Lithium X Energy Corp. its remaining shareholdings of Potassio y Litio de Argentina S.A. In consideration for acquiring the 50% of PLASA held by Aberdeen, Lithium X will make a cash payment of $5,000,000 and issue 6,000,000 Lithium X common shares. The Lithium X common shares will be subject to the standard statutory hold period of four months, with 3,000,000 of such shares subject to trade restrictions for a further six months. As additional consideration, Lithium X will issue to Aberdeen an additional 3,000,000 common shares if, during the three years following closing, the volume weighted average trading price of Lithium X common shares is $3.00 or more for a period of 20 consecutive trading days. Closing of the PLASA share sale transaction is subject to standard closing conditions. ABOUT ABERDEEN INTERNATIONAL INC. Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the mining and metals sector. For additional information, including to obtain a copy of Aberdeen's related early warning report, please visit our website at www.aberdeeninternational.ca, follow us on Facebook, Twitter and LinkedIn.","length":1487,"tagName":"div"}]