Edison Lithium Receives Conditional Approval for Sale of Interest in 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, OTC: EDDYF) ha ricevuto l'approvazione condizionata dalla TSX Venture Exchange per la vendita proposta della sua filiale argentina, Resource Ventures S.A. (ReVe), a Mava Gasoil per USD$3,5 milioni. La transazione, annunciata inizialmente il 18 novembre 2024, è prevista per essere completata alla fine di febbraio 2025, soggetta alla documentazione finale, alla stipula dell'accordo definitivo, all'accettazione finale da parte della TSXV e al ricevimento del prezzo d'acquisto.
Edison Lithium Corp (TSXV: EDDY, OTC: EDDYF) ha recibido la aprobación condicional de la TSX Venture Exchange para la venta propuesta de su filial argentina, Resource Ventures S.A. (ReVe), a Mava Gasoil por USD$3,5 millones. La transacción, anunciada inicialmente el 18 de noviembre de 2024, se espera que se complete a finales de febrero de 2025, sujeta a la documentación final, la ejecución del acuerdo definitivo, la aceptación final de la TSXV y la recepción del precio de compra.
에디슨 리튬 주식회사 (TSXV: EDDY, OTC: EDDYF)는 Mava Gasoil에 아르헨티나 자회사인 Resource Ventures S.A. (ReVe)의 제안된 판매에 대해 TSX 벤처 거래소로부터 조건부 승인을 받았습니다. 판매 금액은 350만 달러입니다. 이 거래는 2024년 11월 18일에 처음 발표되었으며, 최종 문서화, 최종 계약 체결, TSXV의 최종 승인을 조건으로 2025년 2월 말에 완료될 것으로 예상됩니다.
Edison Lithium Corp (TSXV: EDDY, OTC: EDDYF) a reçu l'approbation conditionnelle de la TSX Venture Exchange pour la vente proposée de sa filiale argentine, Resource Ventures S.A. (ReVe), à Mava Gasoil pour USD$3,5 millions. La transaction, annoncée pour la première fois le 18 novembre 2024, devrait être terminée à la fin de février 2025, sous réserve de la documentation finale, de l'exécution de l'accord définitif, de l'acceptation finale de la TSXV et de la réception du prix d'achat.
Edison Lithium Corp (TSXV: EDDY, OTC: EDDYF) hat von der TSX Venture Exchange die bedingte Genehmigung für den vorgeschlagenen Verkauf ihrer argentinischen Tochtergesellschaft, Resource Ventures S.A. (ReVe), an Mava Gasoil für USD$3,5 Millionen erhalten. Die Transaktion, die ursprünglich am 18. November 2024 angekündigt wurde, soll voraussichtlich Ende Februar 2025 abgeschlossen werden, vorbehaltlich der finalen Dokumentation, der Unterzeichnung des endgültigen Vertrages, der endgültigen Genehmigung durch die TSXV und dem Erhalt des Kaufpreises.
- Potential cash inflow of USD$3.5 million from asset sale
- Received conditional approval from TSX Venture Exchange for the transaction
- Transaction completion uncertain pending multiple conditions
- Divestment of potentially valuable lithium assets in Argentina
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2024) - Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that, further to its news release of November 18, 2024, the proposed disposition of the Company's Argentina subsidiary, Resource Ventures S.A. ("ReVe"), as contemplated by the non-binding purchase offer letter, effective November 12, 2024, from Mava Gasoil LLC for USD
Completion of the disposition remains subject to, amongst other things, final documentation, the negotiation and execution of a definitive agreement, final acceptance from the TSXV, and receipt of the purchase price by the Company. The transaction is expected to complete in the latter half of February 2025.
About Edison Lithium Corp.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.
On behalf of the Board of Directors:
"Nathan Rotstein"
Nathan Rotstein
Chief Executive Officer and Director
For more information please contact:
Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Disclaimer: This news release contains certain forward-looking statements. Statements that are not historical facts, including statements about Edison's beliefs and expectations, are forward-looking statements. Forward-Looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "will be", "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue,", "proposes", "contemplates", "is/are likely to" or other similar expressions. All information provided in this news release is as of the date of this news, and the Company undertakes no duty to update such information, except as required under applicable law.
Forward-Looking statements in this press release relate to, among other things: the negotiation and signing of the definitive agreement, the receipt of final TSXV approval for the disposition, the closing of the transaction, and the receipt of the purchase price. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: determination of acceptable terms for the proposed definitive agreement, receipt of all final TSXV approval required for the disposition, and receipt of the purchase price. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231879
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