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Lithion Energy Corp. Completes Sale of Indonesian Gold Properties for US $1 Million
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2017) - Lithion Energy Corporation ...
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"Lithion Energy Corp. Completes Sale of Indonesian Gold Properties for US $1 MillionVancouver, British Columbia--(Newsfile Corp. - June 26, 2017) - Lithion Energy Corporation (TSXV: LNC) (the \"Company\") is pleased to announce that it has completed the sale of its 80-per-cent equity interest in each of PT Gayo Mineral Resources and PT Linge Mineral Resources, under a share purchase agreement (SPA) with a private Indonesia company.As per the terms of the SPA (see News Release date March 9th 2017), the private Indonesian company will pay the Company a total of $1-million (U.S.) (equivalent to approximately $1.32 million CAD). The proceeds will be used to finance the Company's lithium projects (Nevada & Arizona), review additional technology metals properties and to evaluate potential corporate transactions. A finder's fee of $100,000 (U.S.) is to be paid to an arm's-length company in association with the transaction.\"Not only did we add significant cash to the balance sheet, the Indonesian subsidiaries held all of the Company's financial liabilities,\" added Shawn Westcott, President and Director. \"The sale therefore represents a significant change to Lithion's balance sheet and will enable the Company to efficiently pursue its growth strategy,\" Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.FOR FURTHER INFORMATION, visit the Company's website at www.lithionenergycorp.com or contact Shawn WestcottVancouver, British ColumbiaT: +1 604 365 6681E: [email protected] Regarding Forward Looking StatementsCertain statements in this News Release, which are not historical in nature, constitute \"forward looking statements\" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the use of proceeds from the SPA, the Company's growth strategy and the Company's future performance. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different fro...