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Lithium Lion Metals Lion Acquires Option to 113N Project in Quebec
Vancouver, British Columbia – TheNewswire - December 1, 2023 – Lithium Lion Metals Inc. (“Lithium Lion” or the “Company”) (CSE:LLM) (OTC:GLIOF) (FWB:2BC) announ
About this update from Panther Minerals Inc.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - December 1, 2023 – Lithium Lion Metals Inc. (“Lithium Lion” or the “Company”) (CSE:LLM) (OTC:GLIOF) (FWB:2BC) announces that it has entered into an arm’s length property option agreement (the” Agreement”) as of November 30, 2023 (the “Effective Date”), pursuant to which it has the option to acquire a 100-per-cent interest in 59 mining claims covering approximately 3,107 hectares in Bartouille and Ducros Townships in Quebec. The Transaction Lithium Lion entered into the Agreement on November 30, 2023 with Mosaic Metals Corporations (“Mosaic”). Pursuant to the Agreement, Lithium Lion can exercise its option to acquire a 100% interest in the 113N Project (the “Project”) by completing the following milestones on or before the indicated dates: Shares Cash Exploration Commitment On Effective Date (or as soon as practicable thereafter) 200,000 $10,000 1st Anniversary of Effective Date 400,000 $25,000 $75,000 2nd Anniversary of Effective Date 600,000 $50,000 $250,000 3rd Anniversary of Effective Date 800,000 $115,000 $1,000,000 Totals: 2,000,000 $200,000 $1,325,000 Any shares issued by Lithium Lion under the Agreement will be subject to a four month hold period pursuant to applicable securities laws. Upon Lithium Lion’s successful exercise of the option and acquisition of the Project, Mosaic will retain a 2% net smelter returns royalty (“NSR”), one-half of which (1% NSR) can be purchased by Lithium Lion for $1,000,000. The Company also wishes to advise that Mr. Mark Haywood has resigned as Chief Executive Officer of the Company, effective immediately. The Company wishes to thank Mr. Haywood for his many contributions to the Company and wishes him well with his future endeavours. Mr. David Beck will assume the role of interim Chief Executive Officer while the Company seeks a suitable full-time replacement. About Lithium Lion Metals Inc. Lithium Lion Metals Inc. is a mineral exploration company actively involved in the exploration of its lithium and precious metals focused portfolio, including the Mia Li-3 Lithium Project in Quebec. Please visit: https://www.lithiumlion.ca/. ON BEHALF OF THE BOARD OF DIRECTORS Sebastian Lowes Director+ Head Office 305-1770 Burrard St. Vancouver, British Columbia...