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Callinex Options Neuron Graphite Project to Global Li-Ion Graphite Corp.
Callinex Options Neuron Graphite Project to Global Li-Ion Graphite Corp. Canada Ne...
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"\n\n\n\nCallinex Options Neuron Graphite Project to Global Li-Ion Graphite Corp.\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\nCanada NewsWire\nVANCOUVER, Oct. 30, 2017\n\n\n\nVANCOUVER, Oct. 30, 2017 /CNW/ - Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSX-V: CNX; OTCQX: CLLXF Callinex is pleased to announce that it has signed an option agreement with Global Li-Ion Graphite Corp. (\"LION\") (CSE: LION) whereby LION can acquire a 100% interest in the Neuron Graphite Project (the \"Project\") located in Northern Manitoba by paying $200,000 in cash and issuing 2,000,000 shares. Callinex will receive initial considerations of approximately $1.1 million which consists of $200,000 cash and 1,000,000 shares within three days. \n\nMax Porterfield, President and CEO, stated, \"We are pleased to have reached an agreement with Global Li-Ion Graphite Corp. on the Neuron Project, a non-core asset within our project portfolio. This transaction strengthens our balance sheet and provides our shareholders upside to the development of the high-grade graphite project.\"\n\nLION has the option to acquire a 100% interest in the Project by making an additional payment of 1,000,000 shares within 24 months. Callinex will receive an additional milestone payment of 3,000,000 shares if an economic study is completed on the Project or any claims within a 20km area of interest.\n\nIn the event that LION decides not to exercise the option agreement, then Callinex will retain 100% ownership in the Project along with the initial considerations of $200,000 cash and 1,000,000 shares.\n\nAbout Callinex Mines Inc.\n\nCallinex Mines Inc. (TSX-V: CNX ; OTCQX: CLLXF) is advancing its portfolio of zinc rich deposits located in established Canadian mining jurisdictions. The portfolio is highlighted by its Nash Creek and Superjack deposits in the Bathurst Mining District of New Brunswick. Callinex is actively drilling these projects in support of an updated resource estimate and maiden PEA planned for Q1 2018.\n\nAdditionally, Callinex is actively exploring its projects in the Flin Flon Mining Dis...