ACME Lithium Announces Termination of Option Agreement with Eagle Battery Metals
Rhea-AI Summary
ACME Lithium (CSE: ACME) (OTCQB: ACLHF) has announced that Eagle Battery Metals (EBM) has terminated its option to acquire an interest in ACME's Fish Lake Valley lithium project in Esmerelda County, Nevada. The termination was attributed to market conditions. This decision affects the previously announced option agreement detailed in the company's news releases from January 23, 2024, and June 14, 2024.
Positive
- None.
Negative
- Loss of potential strategic partnership for Fish Lake Valley project
- Failed deal indicates challenging market conditions in lithium sector
- Potential negative impact on project development timeline
News Market Reaction
On the day this news was published, ACLHF gained 21.06%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - December 17, 2024) - ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") announces that Eagle Battery Metals Corp. ("EBM") has elected to terminate its option due to market conditions to acquire an interest in ACME's Fish Lake Valley lithium project, located in Esmerelda County, Nevada. See the Company's earlier news releases of January 23, 2024, and June 14, 2024 regarding the terms of the option agreement with Eagle Battery Metals.
About ACME Lithium Inc.
ACME Lithium is a mineral exploration company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies in North America. ACME is advancing and developing a lithium brine resource at Clayton Valley, Nevada, a lithium claystone project at Fish Lake Valley, Nevada, and a group of projects in the pegmatite region of Shatford, Birse and Cat-Euclid Lakes in southeastern Manitoba. Backed by strategic investors and led by an experienced management team, the building blocks of the future are our focus today.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com
For Investor Inquiries:
Anthony Simone
Simone Capital
Telephone: (416) 881-5154
asimone@simonecapital.ca
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234098
FAQ
Why did Eagle Battery Metals terminate its option agreement with ACME Lithium (ACLHF)?
What project was affected by the terminated option agreement with ACLHF?
When was the original option agreement between ACME Lithium and Eagle Battery Metals announced?
What is the impact of the option agreement termination on ACME Lithium (ACLHF)?
