LithiumBank Sources (OTCQX:LBNKF) will promote three lithium brine tasks, Estevan, Kindersley and Soutlocated in Saskatchewan, Canada to Pristine Lithium.
The transaction will consists a money consideration of an combination of C$2M payable as a C$250K deposit inside two days of the execution of the settlement and an extra C$1.75K payable on closing of the transaction.
And 40M shares within the capital of the customer, will signify ~47% of the excellent purchaser shares on a post-financing foundation; 20M warrants, every exercisable into one purchaser share for a interval of two years from the date of issuance at an train worth of $0.45 per purchaser share.
The transaction is anticipated to be accomplished within the fall of 2023, with an outdoor date of January 2024.