INFINITE LITHIUM CORP. ("ILI")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: January 2, 2020
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an Option Agreement dated December 11, 2019 between Infinite Lithium Corp. and Pistol Bay Mining Inc. whereby the Company may acquire up to 100% of the Dixie 3 and Ben Lake Properties located in the Red Lake mining district of Ontario. Consideration is $100,000 cash and 2,000,000 common shares. The underlying vendors retain a Net Smelter Return Royalty ("NSR") of 0.5% on the Dixie 3 claims which the Company may repurchase for $400,000 and a 1.5% NSR on the Ben Lake claims which may also be repurchased for $400,000.
For more information, refer to the Company's news release dated December 12, 2019.