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LITHIUM X ENERGY CORP V.LIX

"Lithium X Energy Corp is a lithium resource explorer and developer. It is focused on supplying the lithium battery industry. The company’s property includes Sal de Los Angeles lithium-potash brine project (the SDLA Project), in Argentina's Salta Province."


TSXV:LIX - Post by User

Post by LongRoadon Feb 28, 2018 10:33pm
110 Views
Post# 27641363

Information on Joint Venture partner

Information on Joint Venture partnerWhile NextView is being discussed ad nauseum, they are only one of the investors in the takeover of LIX.

Another company is Tibet Summit Resources Co., Ltd. which is a public company listed on the Shanghai Stock Exchange under symbol 600338.

https://english.sse.com.cn/

Their February 7th press release speaks about their acquisition of LIX.  (The press release link is in Chinese so use your Google translate)

https://english.sse.com.cn/listed/announcements/index_s_detail.shtml?SEQ=614354

Here are a few excerpts from their disclosure via Google.

Tibet Everest Resources Co., Ltd. (hereinafter referred to as "the Company") intends to participate in a joint venture of NextView New Energy Lion HongKong Limited (registered in Hong Kong with a registered capital of HKD10 million, hereinafter referred to as "NNEL"), a 45% Lithium X Energy Corp., an overseas listed company that focuses on lithium exploration and development, (hereinafter referred to as the "underlying company") made its Scheme of Arrangement to acquire all its shares. 

On February 6, 2018, local time in Canada, the shareholders' general meeting of the subject company reviewed and approved the transaction with the voting result of 98.30% of the votes cast by the shareholders or proxies of the shareholders participating in the voting. Estimated local time on February 7, the transaction will be submitted to the local court for final approval. Estimated in late February, the transaction will be completed delivery, NNEL will complete the acquisition of 100% stake in the underlying company, the subject of the company will also be privatized delisting. After completion of the acquisition of the underlying company, NNEL will actively promote the construction of lithium salt lake project of the subject company in Argentina in order to strive for the early yield of premature production. The project will not have a significant impact on the Company's 2018 performance in the short term, which will benefit the Company's sustainable development and enhance its core competitiveness in the long run. 


There is more information and press releases.  Feel free to read.
 
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