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American Lithium agreement for Nevada property

Jun 7, 2018

2018-06-06 18:01 ET – Property Agreement

The TSX Venture Exchange has accepted for filing a share purchase agreement dated March 6, 2018, between the company and 1134989 B.C. Ltd., and each of the shareholders, Robert Hurst, Kosta Tsoutsis, Peter Holley and Number 2 Capital Corp. (Chris Cooper), and its wholly owned subsidiary, 1134989 Nevada Ltd. (Subco), whereby the company will acquire all of the outstanding share capital of 1134989 in consideration of 12 million postsplit shares. 1134989 and its Subco hold the rights to the Fish Lake claim block, located in Esmeralda county in Nevada. 1134989 and 1134989 Subco are also a party to a mineral property option agreement to acquire the Gap Lode claim block located in Esmeralda county in Nevada. Consideration is as follows:

$190,000 payable in tranches on or before Oct. 30, 2021, in connection with the Gap Lode option agreement;
12 million common shares payable to 1134989 shareholders (three million common shares each);
$110,000 in exploration expenditures on or before Oct. 30, 2021, in connection with the Gap Lode option agreement.

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