Recharge Resources Enters Into an Agreement to Acquire 100% Interest in the Pocitos 1 Project in Salta, Argentina

About this update from Uranium One Mining Corp.

[{"type":"text","content":"Vancouver, BC – TheNewswire - August 15, 2023 - Recharge Resources Ltd. (“Recharge” or the “Company”) (CSE:RR) (OTC:RECHF) (Frankfurt:SL5) is pleased to announce that the Company has entered into a Purchase Agreement (the “Agreement”) with property owner Ekeko S.A. (“Ekeko”) to acquire a 100% interest in the Pocitos 1 Project (the \"Pocitos 1” or “Project\"), located within the Salar de Pocitos in Salta Province, Argentina (Mining Licence File Number 19457) with terms and conditions of the transaction outlined below. The offer provided for in the Agreement was made by Ekeko to Recharge, after Ekeko advised Recharge that the previous optionee, A.I.S. Resources Ltd (“AIS”), did not remedy certain defaults, subsequently did not complete on its contractual obligations to acquire Pocitos 1 and as a result the option expired on June 30th, 2023.  The period for curing any default ended July 31st, 2023. David Greenway, CEO and Director of Recharge Resources, commented on the recent acquisition, saying, \"We're thrilled to confirm our acquisition of a 100% interest in the Pocitos 1 Project from Ekeko SA. With a competitive price that notably does not include royalty payments, this move solidifies our commitment to our stakeholders and the broader market. With the signing of this  agreement, we have demonstrated our confidence in the potential of the Pocitos 1 Lithium Brine project. We eagerly anticipate the progress that this venture promises and look forward towards the maiden resource estimate and the development of this exciting project in Salta, Argentina.\" Terms of the Transaction Under the terms of the Agreement, Recharge acquired a 100% ownership interest in 800-hectare Pocitos 1 Project located within the Salar de Pocitos in Salta Province, Argentina by fulfilling the following conditions: 1.  The agreed price of US$1,200,000 (one million two hundred thousand United States dollars) (the “Price”), to be made as follows (the “Payments”): i.  The sum of US$850,000 (eight hundred and fifty thousand United States dollars) that will be paid on the Agreement signing date. Due within 5 days after signing of the agreement. ii.  The sum of US$350,000 (three hundred and fifty thousand United States dollars) to be placed in trust within the 30 days of the Agreement signing date that will be payable at the time ...

More updates from Uranium One Mining Corp.