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GBM Exercises Second Leinster Option
GBM Exercises Second Leinster Option.
About this update from Technology Minerals Plc
[{"type":"text","content":"\n\n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. \n \n13 July 2023\n \nTechnology Minerals Plc \n \n(\"Technology Minerals\" or the \"Company\") \n \nGlobal Battery Metals Exercises Second Leinster Option\n \nTechnology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that Global Battery Metals Ltd (\"GBML\"), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), an international critical mineral exploration and development company focused on growth-oriented lithium and battery metal projects, has elected to exercise its Second Option (\"Second Option Earn-In\") with respect to the Company's Leinster Lithium Property in the Republic of Ireland (\"the Property\" or the \"Project\"). \nThe Leinster Property is currently operated as an Earn-in Option between LRH Resources Limited (Ireland) (\"LRH\") (a wholly-owned subsidiary of the Company) and GBML. The Project is operated under an exclusive Earn-in and option agreement with GBML with no project expenditure required by the Company.\nWith the Second Option Earn-In exercise, GBML will acquire an additional 37.5% equity interest, bringing GBML's total equity interest in the Project to 55%. Having now spent the required €500,000 on Property exploration and development, GBML will pay Technology Minerals €5,000 in cash and issue 385,000 common shares at a deemed price of $0.17 per share, on or about on July 27, 2023. The issuance of the common shares remains subject to the approval of the TSX Venture Exchange. Project fulfilment requirements were previously announced in GBML's news release on 19 August, 2022.\nThe Project, located south of Dublin in the counties of Wicklow and South Carlow in the Republic of Ireland, is a promising lithium pegmatite project consisting of 16 prospecting license ...