Vision Lithium agreement for Quebec mining claims

Dec 10, 2021

2021-12-10 00:17 ET – Property Agreement

The TSX Venture Exchange has accepted for filing the documentation relating to four acquisition agreements dated Nov. 30, 2021, between the company, Fancamp Exploration Ltd., 9219-8845 Quebec Inc. (doing business as Canadian Mining House), Rejean Raymond, Steve Labranche, Denis Tremblay, Mireille Tremblay, 9248-7792 Quebec Inc., Prospect Or Corp. and Stephane Leblanc, in connection with the acquisition of a 100-per-cent interest in 215 mining claims, covering 12,331 hectares, located approximately 10 kilometres south of the historic mining town of Cadillac in the province of Quebec.

Pursuant to the agreements, the company shall issue 4.3 million common shares and pay $102,427.92 in cash, in consideration for the acquisition of the property.

The company will grant to each vendor groups a 2-per-cent net smelter return (NSR) royalty on any saleable production from portion of the property acquired from such vendor group. Of the NSR royalty, 50 per cent (a 1-per-cent royalty) may be repurchased by the company for $500,000 from each vendor group, except Fancamp Exploration.

For further information, please refer to the company’s news releases dated Dec. 1, 2021, and Dec. 3, 2021.

https://visionlithium.com/