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Coloured Ties Subsidiary Announces Approval of Option Agreement, Investee Company Hertz Lithium Begins Trading on CSE
-- Vieux Comptoir option agreement with Superior Mining International approved by the TSX Venture-- Hertz Lithium commences trading under the symbol (CSE: HZ)--
About this update from Hertz Energy Inc.
[{"type":"text","content":" -- Vieux Comptoir option agreement with Superior Mining International approved by the TSX Venture-- Hertz Lithium commences trading under the symbol (CSE: HZ)-- Patriot Lithium Inc. (ASX: PAT) continues to highlight prospectivity near Lucky Mica-- Hertz holds option to license worldwide rights for Penn State lithium extraction technology Vancouver, British Columbia--(Newsfile Corp. - April 11, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) (\"Coloured Ties\" or the \"Company\"), an investment company focused on business incubation and opportunities that disrupt their industry, is pleased to provide the following update: VIEUX COMPTOIR LITHIUM PROJECT OPTION AGREEMENT APPROVED BY TSX-V: Further to the news release dated December 7, 2022, Quebec Pegmatite (\"QPC\") is pleased to report the TSX Venture Exchange has formally approved the option of the Vieux Comptoir Lithium Property to Superior Mining International (V.SUI). Pursuant to the terms of the Option Agreement QPC will receive the following share issuances: 7,000,000 common shares of Superior (the \"Superior Shares\") upon receipt of approval of the TSX Venture Exchange; 3,500,000 Superior Shares payable on the one-year anniversary of the Option Agreement; and 3,500,000 Superior Shares payable on the eighteen-month anniversary of the Option Agreement. Additionally, Superior shall grant QPC a 3.0% net smelter return royalty (the \"NSR Royalty\") and the NSR Royalty may be reduced to 1.5% upon Superior making a cash payment of $3,000,000 to QPC. The Vieux Comptoir Lithium Property comprises a total of 381 Quebec mineral exploration claims, which amount to a total of 19,533.81 hectares or ~195 square kilometers. Located in the centre of significant lithium discoveries by Patriot Battery Metals (V.PMET) only 45km west and Winsome Resources (ASX:WR1) 45km east. The La Grande subprovince regional trend has encountered multiple high grade lithium intersections including recently announced 83.7m of 3.13% Li2O, including 19.8m of 5.28% Li2O from Patriot Battery Metals and over 107.6m of 1.34% Li2O from Winsome Resources. The Vieux Comptoir Property encompasses lithium pegmatite prospective source rocks of the Vieux Comptoir Granitic Suite which have been identified on the Property. The Property sits along the volcanic belt and encompasses various intru...