Urban Select Capital to Acquire Hard Rock Lithium Corp.
Vancouver, British Columbia (FSCwire) - Urban Select Capital Corporation (TSX-V: CH) (“Urban Select” or the “Company”) is pleased to announce its next investment, the acquisition of Hard Rock Lithium Corp. (“Hard Rock”). Hard Rock owns three claims covering 132 hectares roughly 40kms east of Yellowknife on the all-weather paved Ingraham Trail Highway in the Northwest Territories, Canada. The project hosts a 730 meter spodumene dyke up to 9 meters wide in specific areas, with the potential of another 4 dykes that have been discovered at surface. Current samples from the main dyke have returned 1.65% Li2O, 1.29% Li2O and 1.17% Li2O.
Urban Select proposes to acquire all of the issued and outstanding shares of Hard Rock Lithium through a three-cornered amalgamation involving a wholly-owned subsidiary of the Company and Hard Rock. Pursuant to the Transaction, the Company will issue to the shareholders of Hard Rock Lithium an aggregate of 21,000,000 common shares. As a result of the business combination, Urban Select expects to have approximately 69,000,000 common shares issued and outstanding on an undiluted basis.
“We are excited about this investment into hard rock lithium assets,” comments Min Kuang, president and CEO of Urban Select. “We see this transaction as an excellent base to build shareholder value. We look forward to updating shareholders on this property, future acquisitions and investments.”
About Hard Rock Lithium Corp.
Hard Rock Lithium Corp. is a private company focused on the identification and exploration of high grade lithium assets within the Northwest Territories. Hard Rock holds the Ingraham Trail Lithium Property 40km east of Yellowknife, NWT. Hard Rock also has access to multiple additional lithium projects nearby in the Yellowknife Pegmatite Belt and throughout the world.
About Urban Select Capital Corp.
Urban Select Capital Corp. is an investment issuer focused on investing growth capital in private and public companies in a broad range of sectors including natural resources, media & entertainment, education, healthcare and consumer retail services. Urban Select’s management team is composed of investment professionals combining an Asian background with Western education and extensive experience in investment banking, venture capital and fund management in Canada, China and the U.S.
For further information, please contact:
Min Kuang, President and Director
To view the original release, please click here
Source: Urban Select Capital Corp. (TSX Venture:CH, FWB:1QD)
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