INFINITE LITHIUM CORP. ("ILI")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: February 7, 2020
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an Option Agreement dated January 27, 2020 between Infinite Lithium Corp. and Pistol Bay Mining Inc. ("Pistol Bay") whereby the Company acquires up to a 90% interest in and to the Dixie Ten-Mile Property located in the Red Lake Mining District in Ontario. Consideration in year 1 (one) for a 75% interest in the property is $55,000 cash, 1,000,000 common shares and $250,000 in work commitments. Consideration during year 2 (two) for the additional 15% interest is $30,000 cash, 500,000 common shares and $300,000 in work commitments. Pistol Bay will retain a 1% Net Smelter Return Royalty.