INFINITE LITHIUM CORP. ("ILI")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: December 5, 2019
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation pertaining to an Option Agreement (the "Agreement"), dated December 2, 2019, between Infinite Lithium Corp. (the "Company") and an arm's length party (the "Vendor"), whereby the Company may acquire an undivided 100% interest in certain mineral claims (the "North Buffy Lake Property"), located in the Red Lake district of Ontario.
Under the terms of the Agreement, the Company is required to make aggregate cash payments of $121,000 and issue 800,000 common shares to the Vendor over a three year period to earn a full interest in the Property.
The Vendor will retain a 1.5% NSR, 50% of which is purchasable by the Company at any time for $1,000,000.
For further details, please refer to the Company's news release dated December 4, 2019.