- Recharge Resources (RR) has entered into an agreement with West Mining (WEST)
- Recharge may acquire a 75 per cent interest in the Kagoot Brook Project by issuing 1,000,000 common shares to West Mining and assuming a $650,000.00 exploration commitment
- The agreement remains subject to TSX Venture Exchange approval
- Recharge Resources is a Canadian mineral exploration company
- Recharge Resources Ltd. (RR) is down 5.88 per cent, trading at C$0.16 per share at 2 pm ET
Recharge Resources (RR) has entered into an agreement with West Mining (WEST).
Recharge CEO and Director, Yari Nieken, commented on the option.
“Recharge is focused on identifying domestic sources of battery tetals and the Kagoot Brook property adds yet another highly prospective asset to our growing portfolio that includes nickel, lithium and cobalt assets in established mining jurisdictions.”
Nicholas Houghton, President and CEO of West Mining commented,
“It’s a pleasure to work with a company focussed on the energy sector and Recharge Resources is building a first class portfolio. The deal allows West Mining to still benefit from the Kagoot Brook project whilst keeping our own sights firmly set on the Kena gold and copper project.”
Recharge may acquire a 75 per cent interest in the Kagoot Brook Project by issuing 1,000,000 common shares to West Mining, assuming a $650,000.00 exploration commitment to be completed before May 10, 2023, and by paying a $50,000.00 royalty payment to underlying royalty holders by January 23, 2022.
Recharge shall issue 500,000 common shares to Great Atlantic Resources for the extension on the exploration expenditures.
The agreement remains subject to TSX Venture Exchange approval. All shares issued pursuant to the agreement shall be subject to a four-month hold period.
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing high-value battery metals to meet the demands of the advancing electric vehicle and fuel cell market.
Recharge Resources Ltd. (RR) is down 5.88 per cent, trading at C$0.16 per share at 2 pm ET.