Braille Energy Systems Announces Proposed Sale of Romer Mining Property

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[{"type":"text","content":"Braille Energy Systems Announces Proposed Sale of Romer Mining PropertyOTTAWA, ON / ACCESSWIRE / March 4, 2022 / Braille Energy Systems Inc. (TSXV:BES) (\"Braille\") announces that is has entered into a letter of intent (the \"Letter\") to sell its Romer Polymetallic property which consists of 57 contiguous and two isolated map-designated mining claims (total surface area: 2,592.1 ha or 26 km2 (the \"Property) to Stria Lithium Inc. (\"Stria\").The Property is located in the Labrador Trough sector of Nunavik, the northern division of the Nord-du-Québec administrative region. The Property straddles the junction between NTS 1:50,000-scale topographic sheets 24K-03 (Lac Géridot) and 24K-04 (Lac Thévenet), and covers portions of unpatented townships 5051, 5052 and 5151. It is bound by latitudes 58°06'30\" and 58°12'30\" North and longitudes 69°29'00\" and 69°38'00\" West. The Property is an early-stage exploration project located in the Labrador Trough which is considered a potential emerging region of Québec for base (Cu-Zn-Ni) and precious (Au-PGE) metal mineralization.Consideration for the Property is anticipated to be: (i) cash in the amount of $125,000; (ii) 7,500,000 common shares of Stria issued at a deemed price of $0.05 per share; and (iii) a net smelter royalty of 1% (\"NSR\"). Stria will have the option (the \"Partial NSR Buyout Option\") to purchase 50% of the NSR such that the NSR is reduced from 1.0% to 0.5%. The Partial NSR Buyout Option may be exercised at any time by Stria for consideration of $500,000 payable in cash or stock or a combination thereof at Stria's discretion.The proposed acquisition of the Property remains subject to standard closing conditions, including a satisfactory title review by Stria, the execution of the property acquisition agreement, and TSX Venture Exchange (the \"Exchange\") approval.Braille holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Prior to its acquisition of Braille Holdings through a reverse takeover transaction, Braille wa...

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