I believe Cypress will drill the Teels Marsh shortly as Dajin has the road and drill pads in place for 4 deep large holes since August 2018. As per below Cypress has to spend $200,000 in the first year and that would be it.

I guess the upcoming PP is also for that. Also remember that when excersized about 15 m warrants will add over $ 1.5 million to Cypress budget. I hope its a good brokerage that does the placement as they can boost Cypress with there clients. The big reason we have not seen a lot of buying is there are no institutional buyers in Cypress. ( Only retail and insiders so far )

Two Companies with Nevada Lithium Deposits Plan Joint Venture

 

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The close proximity of two properties offers promise of synergies for these firms.

With an eye toward partnering in a joint venture (JV), Cypress Development Corp. (CYP:TSX.V; CYDVF:OTCQB; C1Z1:FSE) signed a nonbinding letter of intent with Dajin Resources Corp. (DJI:TSX.V; DJIFF:OTCPK) concerning Dajin's Alkali Spring Valley lithium property in Nevada, 12 kilometers from Cypress' Clayton Valley lithium project.

Under the agreement, Cypress gains the exclusive right and option to acquire a 50% interest in Dajin's 145 unpatented mining claims at Alkali Spring Valley, as well as its application for 1,000-acre-feet per year of water rights in Nevada's Esmeralda County.

In exchange, Cypress will give Dajin 150,000 Cypress shares plus $50,000. Cypress has two years to complete its earn-in, which requires issuing another 150,000 Cypress shares to Dajin, and spending $200,000 on exploration at Alkali Spring Valley in year one and $250,000 in year two. Following that two-year period, the two companies will establish the JV.

If Dajin does not want to participate in the JV at that point, it may "dilute to a 10% net profits' interest on the value of the JV property in Alkali Spring Valley," a news release explained.

The next steps are for Cypress to perform due diligence on Dajin and draft a definitive agreement for the deal. Once those are done and the TSX Venture Exchange approves the transaction, Cypress will compensate Dajin with the above mentioned shares and cash.

After the JV is in place, Cypress and Dajin will "share proportionally in property development if lithium brine resources are discovered," according to the release.

"We look forward to working with Dajin on the exploration of the Alkali Spring Valley lithium property, and we appreciate its work to date toward obtaining related water rights," Cypress' CEO Bill Willoughby said in the release. "We particularly welcome the prospect to explore synergies with our Clayton Valley lithium project."Cypress/Daj