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"This acquisition will bolster the project portfolio with an outstanding set of spodumene lithium projects in one of the best mining jurisdictions in Canada," stated company president and chief executive officer, Michael Gheyle. "Both the Berens and Crescent Lake targets are on strike and adjacent to known lithium deposits and in highly prospective ground. A combination of historical drilling and early-stage exploration indicates the presence of spodumene pegmatites at surface and we are excited to get to work. Discovery Lithium remains well positioned to build value for its shareholders on its lithium projects in Ontario and Quebec."
The LOI is non-binding, and completion of the transaction is subject to the receipt of all necessary approvals and the satisfaction of a number of conditions, including the entering into of a definitive agreement and other customary conditions for a transaction of this nature. Maybe this deal got thrown out with Gheyel ?
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