Huntsman to Divest Pegmatite Rights at Canegrass
Huntsman Exploration Inc. (TSXV:HMAN; OTC PINK:BBBMF) has signed an Option Agreement to divest lithium and pegmatite-related metal rights at its Canegrass Nickel Project to Corcel Plc. Corcel will pay a non-refundable deposit of £20,000 for a 30-day exclusive option to acquire these rights. If exercised, Corcel will issue 50,000,000 new ordinary shares at a deemed price of 0.4p, totaling £200,000. Huntsman continues to focus on the exploration of its Nickel and Gold projects in Western Australia and Nevada, respectively. This move aligns with the company's strategy to optimize asset management.
- Huntsman receives a non-refundable deposit of £20,000, enhancing immediate cash flow.
- Potential for £200,000 in shares if Corcel exercises the option, bolstering financial resources.
- Divestment aligns with strategic focus on core projects in nickel and gold.
- None.
VANCOUVER, BC / ACCESSWIRE / February 22, 2023 / Huntsman Exploration Inc. (TSXV:HMAN); (OTC PINK:BBBMF) (the "Company" or "Huntsman") is pleased to announce that it has entered into an agreement (the "Option Agreement") to divest the lithium and any other pegmatite-related metal rights at the Company's
Corcel has agree to pay the Company a non-refundable deposit of £20,000 for an exclusive 30-day option to acquire the lithium rights at the Canegrass. In the event Corcel chooses to exercise the option to proceed to acquire the lithium rights, it will issue to the Company 50,000,000 new ordinary shares at a deemed issue price of 0.4p for total value of £200,000.
About Huntsman Exploration Inc.
Huntsman is a mineral exploration company focused on the exploration and development of the Canegrass Nickel Sulphide Project and Western Yilgarn Projects in Western Australia under the Company's Huntsman Nickel division, and the exploration and development of the Company's gold project under the Huntsman Gold division, specifically the Baxter Spring historical gold discovery in Nevada.
On Behalf of the Board of Huntsman Exploration Inc.
Scott Patrizi
President and Chief Executive Officer
For more information, please contact 1-855-584-0160 or info@huntsmanx.com
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements
SOURCE: Huntsman Exploration Inc.
View source version on accesswire.com:
https://www.accesswire.com/740264/Huntsman-to-Divest-Pegmatite-Rights-at-Canegrass
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