Standard Lithium Enters into Definitive Agreement to Acquire Moab Minerals
21.02.2017 | Accesswire
VANCOUVER, February 21, 2017 - Standard Lithium Ltd. (the "Company") (TSX-V: SLL) is pleased to announce that, further to its news release of December 2, 2016, it has entered into a definitive agreement to acquire all of the outstanding share capital of Moab Minerals Corp. ("Moab Minerals"), a privately-held British Columbia-based mineral exploration company. Moab Minerals holds the rights to the "Paradox Property", which consists of a series of 3,085 mineral claims located in the Paradox basin in Grand and San Juan counties in the State of Utah.In consideration for the acquisition of all of the outstanding share capital of Moab Minerals, the Company will issue 6,850,000 common shares, and will assume responsibility for all outstanding liabilities of Moab Minerals. In addition, on closing of the acquisition, the Company will pay a finders' fee of 200,000 common shares to an arm's length third-party who assisted in facilitating the acquisition.
Closing of the acquisition remains subject to the final approval of the TSX Venture Exchange, as well as certain other conditions as are customary in transactions of this nature.
For further information, contact Gavin Cooper at 604.639.9051.
On behalf of the Board, Standard Lithium Ltd.
Gavin Cooper
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.