MILLENNIAL LITHIUM CORP. ("ML")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: October 5, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a Property Option Agreement dated September 23, 2016 between Millennial Lithium Corp. (the Company) and Fernando Erik Villarroel Alcocer (the Vendor) whereby the Company may acquire a 100% interest in the Cauchari Property located in Jujuy province, Argentina. Consideration for the first 50% is US$1,000,000 cash, US$1,500,000 worth of common shares and US$2,000,000 work commitments in the first year. To earn the additional 50% interest additional consideration of US$1,000,000 cash, US$1,000,000 worth of common shares and an additional US$2,000,000 work commitments are payable. If the Company earns a 100% interest, the Vendor will retain a 3.5% Gross Overriding Royalty. The Company may reduce the Gross Overriding Royalty to 1.5% at any time for US$2,000,000.
Finder's fees of US$157,500 cash are payable to Shu-Xian Zhang in the first year and US$100,000 in year three if the company earns a 100% interest.
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