Business
VISION LITHIUM OPTIONS CADILLAC LITHIUM PROPERTY TO ASX-LISTED OLYMPIO METALS
VISION LITHIUM OPTIONS CADILLAC LITHIUM PROPERTY TO ASX-LISTED OLYMPIO METALS Canada Ne...
About this update from Vision Lithium, Inc.
[{"type":"text","content":"\n \n \n \n VISION LITHIUM OPTIONS CADILLAC LITHIUM PROPERTY TO ASX-LISTED OLYMPIO METALS\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VAL-D'OR, QC\n \n \n ,\n \n \n Aug. 1, 2023\n \n \n /CNW/ - Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) (the \"\n \n Company\n \n \" or \"\n \n Vision Lithium\")\n \n reports that it has signed an option agreement (\"Agreement\") with Olympio Metals (ASX: OLY) (\"\n \n Olympio\n \n \") of\n \n West Perth, Australia\n \n whereas Olympio can acquire an undivided 100% interest in the Cadillac Lithium property over a one-year period. The property is easily accessed less than 20km South of the Northern Trans-Canada highway between\n \n Rouyn-Noranda\n \n and\n \n Val d'Or\n \n in the heart of the Abitibi mining region in northwestern\n \n Quebec, Canada\n \n .\n \n \n \n \n \n \n \n \n \n \n Yves Rougerie\n \n , President & CEO of Vision Lithium comments: \"We are very pleased to partner with Olympio Metals to advance the Cadillac project. The known mineralized lithium dikes on the property exhibit good continuity and grade which suggests excellent potential for positive results from additional drilling as well as new discoveries elsewhere on this very large property. Its location in the heart of the Quebec Abitibi mining region is also a distinct advantage whereby exploration costs will be much lower than more northern projects.\"\n \n \n Subject to the terms and conditions of the Option Agreement, Olympio Metals agrees to pay the following consideration to Vision Lithium for the acquisition of the Assets under the Option:\n \n \n Upfront consideration of:\n \n \n \n \n C$500,000\n \n in cash; and\n \n \n 10,000,000 fully paid ordinary shares of Olympio Metals to be paid and issued within 5 Business Days after the receipt of the approvals; and\n \n \n \n C$500,000\n \n in cash to be paid within 30 days of the Approval Date.\n \n \n \n The following amounts to be paid and/or expended before one year:\n \n \n \n \n C$500,000\n \n in cash; and\n \n \n a fur...