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Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on acquiring, exploring, and developing cobalt, lithium, alkali, and other energy metal properties. The company's strategic acquisitions aim to provide critical materials to the battery industry, capitalizing on the increased interest in battery metals. Edison's recent activities include the proposed warrant amendments, annual shareholder meeting approvals, plan of arrangement, asset purchase agreements, and the termination of the letter of intent for the sale of Argentinian lithium properties.
Edison Lithium Corp (TSXV: EDDY, OTC: EDDYF) has received conditional approval from TSX Venture Exchange for the proposed sale of its Argentine subsidiary, Resource Ventures S.A. (ReVe), to Mava Gasoil for USD$3.5 million. The transaction, initially announced on November 18, 2024, is expected to complete in late February 2025, subject to final documentation, definitive agreement execution, final TSXV acceptance, and receipt of purchase price.
Edison Lithium Corp (TSXV: EDDY) has accepted a non-binding purchase offer from Mava Gasoil for the sale of its Argentina subsidiary, Resource Ventures S.A. (ReVe), for USD$3.5 million. The deal includes 30 mining concessions covering 104,538 hectares in Catamarca Province's Antofalla and Pipanaco Salars. Edison will retain 8 mining concessions (35,000 hectares), representing 25% of current ReVe claims. The transaction requires a USD$100,000 initial deposit and remaining payments upon closing, subject to TSXV and shareholder approvals, with completion expected within 45 days of TSXV approval.
Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) has filed a National Instrument 43-101 compliant Technical Report for its alkali mineral dispositions in Saskatchewan, Canada. The report, titled 'Alkali Mineral Dispositions, Saskatchewan', covers four alkali lakes: Whiteshore Lake, Ceylon Salt Lake, Freefight Lake, and Cabri Lake.
The company views sodium-ion batteries as a promising alternative to lithium-ion technology, citing their cost-effectiveness and sustainability. Edison aims to develop sodium resources in Saskatchewan, positioning itself as a key player in advancing sodium-ion battery technology. CEO Nathan Rotstein highlighted the potential advantages of sodium-ion batteries, particularly in colder climates.
The alkali dispositions, held by Edison's subsidiary Edison Saskatchewan Resources Corp., span a total area of approximately 6,052 acres across the four lakes. These acquisitions align with Edison's interest in sodium-ion battery formulations and their commitment to Canada's clean energy initiatives.
Edison Lithium has announced the termination of its letter of intent with Meteor Energy for the sale of its Argentinian subsidiary, Resource Ventures S.A.
The subsidiary controls rights to promising lithium brine claims in Catamarca, Argentina.
The company is currently in talks with other potential buyers but has not finalized any new agreements.
Additionally, Edison Lithium is postponing its previously planned spin-out of Edison Cobalt Corp. due to challenging market and financing conditions.
This spin-out had already received court and shareholder approval and awaits final acceptance from the TSX Venture Exchange.
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