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Nevada Energy Closes Disposition of Black Rock Desert Lithium Project in Nevada
(via TheNewswire) January 6, 2017 / TheNewswire / Vancouver, British Columbia- Nevad...
About this update from Grid Battery Metals Inc
[{"type":"text","content":"Nevada Energy Closes Disposition of Black Rock Desert Lithium Project in Nevada(via TheNewswire)\n \n \nJanuary 6, 2017 / TheNewswire / Vancouver, British Columbia- Nevada Energy Metals Inc. \"the Company\" (TSX-V: BFF; OTCQB: SSMLF) (Frankfurt: A2AFBV) announces that further to its news releases dated November 11, 2016 and December 15, 2016 and further to the conditional acceptance from the TSX Venture Exchange (the \"Exchange\") dated January 5, 2017 pursuant to an Option Agreement dated November 10, 2016 (the \"Agreement\") between the Company and LiCo Energy Metals Inc. (\"LiCo\"), whereby LiCo can earn an undivided 70% interest, subject to a 3% net smelter return royalty (\"NSR\"), in 199 placer claims located in southwest Black Rock Desert, Nevada, the transaction has now closed, subject to final acceptance of from the Exchange. \n\n \n \nAs consideration for the transaction the Company will receive from LiCo :\n\n\n \n\n\n-US$170,000 cash;\n\n\n\n-4,500,000 shares over two years; and\n\n\n\n-US $1,250,000 in exploration commitment within three years.\n\n\n\n \n \nAbout Nevada Energy Metals: http://nevadaenergymetals.com/\n\n\n \nNevada Energy Metals Inc. is a well funded Canadian based exploration company who's primary listing is on the TSX Venture Exchange. The Company's main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has 100% ownership in 78 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America (under option to Lithium America who can earn a 70% interest); 100% interest in the 100 claim Teels Marsh West Project covering 2000 acres (809 hectares) in Mineral County, Nevada; 100% interest in the San Emidio Desert Project consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; 100% interest in the 710 claim Dixie Valley Project covering about 5746 hectares (22 square miles) of playa and alluvial fan; 100% interest in the BSV Lithium Project - 160 claims, with an area of 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Nye County, Nevada; 100% interest in the Black Rock Desert Property - 199 claims (3,980 acres/ 1,610 hectares) located in southwest Black Rock Desert, Washoe County, Nevada (now optioned 70% interest to LiCo Energy Metals Inc....