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CDN Maverick and NOA Lithium Amend the Nevasca Property Agreement
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2024) - CDN Maverick Capital Corp. (CSE:...
About this update from Noa Lithium Brines Inc
[{"type":"text","content":"CDN Maverick and NOA Lithium Amend the Nevasca Property AgreementVancouver, British Columbia--(Newsfile Corp. - June 20, 2024) - CDN Maverick Capital Corp. (CSE: CDN) (OTCQB: AXVEF) (FSE: A117RU) (\"Maverick\" or the \"Company\")  is pleased to announce that, under the amended terms of the property agreement, it received $50,000 USD in cash and a total of 2,064,750 NOA Lithium Inc. (TSXV: NOAL) common shares as part of the third payment for CDN's Nevasca Lithium Project in Argentina. All other commercial terms of the original agreement remain unchanged. On June 12, 2024, NOAL was required to make a payment of US$250,000 in cash and US$250,000 in NOAL shares. However, CDN Maverick elected to receive US$50,000 cash and increase the share portion to US$450,000 worth in NOAL shares. Simon Studer, Interim CEO and President, CDN Maverick, comments, \"Upon receiving the third payment, Maverick has increased its stake in NOA Lithium Brines Inc. to over 3.1 million shares. From an investor's standpoint, lowering the cash part of the NOAL payment to enhance our equity position in NOAL seemed particularly opportunistic as NOAL has recently expanded its resource at the Rio Grande Salar Lithium Project in Salta by 65%, reaching 3,799,000 tonnes of Lithium Carbonate Equivalent (LCE) with an average lithium concentration of 535 mg/l.\" And continues: \"Our primary objective is to develop assets and identify opportunities that generate long-term value for our shareholders. The aggressive pace of NOAL's exploration efforts, along with the reported grades and size of the deposit at Rio Grande, compare favorably with historical examples of lithium brine projects in similar Salar environments in the Puna of Northwest Argentina, which have become M&A targets within a relatively short timeframe.\" All details regarding the original property transaction are set forth in the Company's news release dated May 8, 2023.Picture 1: \"Cono de Arita\", Arizaro Salar, Salta, Argentina, nearby the Nevasca Lithium ProjectTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4568/213629_5a7691f004d7486a_001full.jpgUpdate on Noram Lithium Corp. Investment CDN Maverick is also pleased to report an update on its investment in Noram Lithium Corp., which has released a new Mineral Resource Estimate (MRE) for its Zeus l...