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Frontier Lithium Announces Acquisition of the 2.5% Net Smelter Royalty on the PAK Lithium Project
Frontier Lithium Announces Acquisition of the 2.5% Net Smelter Royalty on the PAK Lithium...
About this update from Frontier Lithium Inc.
[{"type":"text","content":"\n \n \n \n Frontier Lithium Announces Acquisition of the 2.5% Net Smelter Royalty on the PAK Lithium Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n SUDBURY, ON\n \n ,\n \n April 9, 2021\n \n /CNW/ - Frontier Lithium Inc. (TSXV: FL) (OTCQX: LITOF) (FSE: HL2) (\"Frontier\" or \"the Company\") announces that it has entered into an agreement to acquire the 2.5% Net Smelter Royalty (\"NSR\") that was outstanding on the Company's PAK Lithium Project for consideration of\n \n $4,000,000\n \n in cash and 1,000,000 common shares of the Company at a price of\n \n $1.00\n \n per share (the \"Acquisition\").\n \n \n Frontier Lithium President and CEO,\n \n Trevor Walker\n \n commented, \"With significant resource growth potential, underlying economic considerations and financial modelling, coupled with lithium market fundamentals and the strategic importance for high-quality critical mineral resources we consider this acquisition of the NSR as an accretive transaction for all of the Project's stakeholders and are pleased to take advantage of the opportunity.\"\n \n \n The Acquisition is subject to approval by the TSX Venture Exchange (the \"Exchange\") and the common shares issued herein will be subject to the Exchange hold periods and applicable securities laws.\n \n \n \n About Frontier Lithium\n \n \n \n Frontier Lithium (TSX.V: FL) (OTCQX: LITOF) (FSE: HL2) is an emerging pure play lithium company with the largest land position in the Electric Avenue, an emerging premium lithium mineral district located in the Great Lakes region of northern\n \n Ontario\n \n . The company maintains 100% ownership in the PAK Lithium Project which contains one of\n \n North America's\n \n highest-grade, large tonnage hard-rock lithium resources in the form of a rare low-iron spodumene. The Project has significant upside exploration potential. Frontier is a pre-production business that is targeting the manufacturing of battery quality lithium hydroxide in the Great Lakes Region to support electric vehicle and battery supply chains in\n \n North...