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Navion Capital Announces Proposed Qualifying Transaction With NOA Lithium
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED S...
About this update from Noa Lithium Brines Inc
[{"type":"text","content":"Navion Capital Announces Proposed Qualifying Transaction With NOA LithiumNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESCALGARY, AB / ACCESSWIRE / June 16, 2022 / Navion Capital Inc. (TSXV:NAVN.P) (the \"Company\" or \"Navion\"), a capital pool company listed on the TSX Venture Exchange (the \"TSXV\"), is pleased to announce that it has entered into a letter of intent dated June 15, 2022 (the \"LOI\") with NOA Lithium Brines S.A. (\"NOA\"), with regard to the acquisition by the Company of all of the issued and outstanding securities of NOA (the \"Transaction\").The Transaction is intended to constitute the Company's qualifying transaction (the \"Qualifying Transaction\") pursuant to Policy 2.4 - Capital Pool Companies (\"Policy 2.4\") of the TSXV Corporate Finance Manual (the \"TSXV Manual\"). The Transaction is subject to due diligence reviews, the approval of the TSXV, execution of a definitive agreement and other closing conditions customary for a transaction of this nature. The resulting issuer of the Transaction will carry on the business of NOA (\"Resulting Issuer\") and it is anticipated that the common shares of the Resulting Issuer (the \"Resulting Issuer Shares\") will be listed for trading on the TSXV.About Navion Capital Inc.Navion is a capital pool company listed on the TSXV (TSX.V:NAVN.P). The Company's principal business activity is to identify and evaluate opportunities for the acquisition of assets or businesses. The Company was incorporated on October 18, 2017 and has its registered office in Calgary, Alberta.About NOA Lithium Brines S.A.NOA is a limited liability company (formerly Explormin S.A) that was incorporated in Argentina and registered with the Public Register of Commerce on February 2, 2015. NOA has its registered office in Buenos Aires, Argentina. From incorporation until Q4, 2021, NOA was a company with no active business. Since Q4, 2021, NOA changed its name to NOA Lithium Brines S.A. and began to actively identify and acquire lithium projects for future exploration and development.NOA's core project, Rio Grande, is located in the Salar de Rio Grande basin (the salar) in the Salta province in the Puna Region of northwest Argentina (the \"Project\"). The salar is an evaporite basin with demonstrated brine in the subsurface that is enriched with lith...