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Canadian Palladium Announces Closing of Acquisition of Mineral Properties in East Brazilian 'Lithium Belt'
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2023) - Canadian Palladium Resources ...
About this update from Quest Critical Metals Inc
[{"type":"text","content":"Canadian Palladium Announces Closing of Acquisition of Mineral Properties in East Brazilian 'Lithium Belt'Vancouver, British Columbia--(Newsfile Corp. - December 4, 2023) - Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR) (the \"Company\") is pleased to announce that, further to its press release dated November 9, 2023, it has completed its arm's length acquisition (\"Acquisition\") of all of the issued and outstanding securities of 1439266 BC Ltd. ‎‎(\"143 BC\"), in consideration for an aggregate of 12 million common shares of the Company issued at a deemed price of $0.315. 143 BC is the ‎legal and beneficial owner of a 100% interest in and to 15 mineral tenements totalling ‎‎24,427.28 hectares (\"Property\") located in 'Lithium Valley' in Minas Gerais State, Brazil.The Property is located in the East Brazilian 'Lithium Belt', sometimes called, Lithium Valley, which is home to three ‎‎operating ‎lithium mines including Sigma Lithium's Groto do Cirilo mine and numerous advanced exploration projects such as Atlas ‎‎Lithium's ‎Neves project.‎ Pursuant to the Acquisition, the shareholders of 143 BC will also receive, on a pro rata basis, an aggregate cash payment of $200,000, which is to be paid within three (3) months. In addition, 143 BC carries indebtedness of $100,000 in relation to a loan received by it for purposes of making a $100,000 payment to the original Property vendor. The Company will indirectly assume this obligation to pay this loan, with payment due within three (3) months. All securities issued in connection with the Acquisition will be subject to a hold period expiring on the date that is 10 days following the date on which the Company files a Business Acquisition Report in respect of the Acquisition. On behalf of the Board of DirectorsCanadian Palladium Resources Inc. James Newall, President and CEOT: (604) 639-4472Forward-Looking StatementsThis news release contains certain \"forward-looking information\" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as \"plan\", \"expect\", \"project\", \"intend\", \"believe\", \"anticipate\", \"estimate\" and other similar words, or statements that certain events or conditions \"may\"...