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ABE Resources to Acquire Nemaska Lithium's Sirmac Lithium Property
ABE Resources to Acquire Nemaska Lithium's Sirmac Lithium Property Canada NewsWire...
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[{"type":"text","content":"\n\n\n\nABE Resources to Acquire Nemaska Lithium's Sirmac Lithium Property\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen3{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVAL-D'OR, QC, Dec. 14, 2017\n\n\n\nVAL-D'OR, QC, Dec. 14, 2017 /CNW/ - ABE Resources Inc. (TSXV: ABE) (OTC: ABEPF) (the \"Company\" or \"ABE\") is pleased to announce the signing of a definitive asset purchase agreement (the \"Agreement\") for the arm's length acquisition (the \"Transaction\") of a 100% undivided interest in the Sirmac Lithium Property (the \"Sirmac Property\") from Nemaska Lithium Inc. (\"Nemaska Lithium\") (TSX: NMX) (OTC: NMKEF) (FRANKFURT: N0T). The Sirmac Property consists of 24 mining claims having a total area of approximately 1,100 hectares located approximately 180 kilometres North-West of Chibougamau, in the province of Québec.\n\nUnder the Agreement, ABE will make a $250,000 cash payment and issue 15,000,000 common shares of ABE to Nemaska Lithium and assume a pre-existing 1% net smelter return royalty on certain of the claims comprising the Sirmac Property. The Transaction remains subject to the approval of the TSX Venture Exchange.\n\n\"We identified the Sirmac Property as our top lithium project pick and initiated discussions with Nemaska Lithium,\" commented Yves Rougerie, President and CEO of ABE. \"The property has an historical resource of 318,324 tonnes grading 2.04% Li2O for the #5 Dyke completed in 1994* and has at least twelve sparsely outcropping pegmatite dykes, most of which have yet to be tested by drilling. Nemaska completed more than $2-million of exploration work on the Sirmac P...