LITHIUM ENERGI EXPLORATION INC. ("LEXI")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: August 28, 2017
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an Engagement Agreement effective as of September 5, 2017 between Lithium Energi Exploration, Inc. (the Company) and IBC Advanced Technologies, Inc. (IBC) whereby IBC will provide testing and engineering services for a lithium extraction plant using IBC's proprietary technology for separation, recovery, refining and purification of lithium from lithium brines plus exclusive right of first refusal to obtain site licenses to use IBC's proprietary technology in third party territories covering approximately 20,000 square kilometers in the Catamarca Province, Argentina. Consideration is US$600,000 and 5,000,000 common shares over a 12 month period. Additionally, IBC will have the right to a 10% carry-forward interest in the assets of, and 8% of the net profit from, any lithium extraction plant developed by the Company and IBC under the Engagement Agreement.
For additional details, please see the Company's news release dated August 24, 2107.
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