Critical Elements Announces the Signing of an Agreement to Buyback 49% Interest in the Bourier Property

Rhea-AI Summary

Critical Elements Lithium (OTCQX:CRECF) has announced the signing of an Asset Purchase Agreement to buyback 49% interest in the Bourier property from Lomiko Metals. The transaction involves a $30,000 cash payment to Lomiko, which will give Critical Elements complete ownership of 203 exclusive exploration rights. This buyback reverses the previous Option Agreement signed with Lomiko in April 2021.

Upon completion of the transaction, Critical Elements will regain 100% ownership of the Bourier property, consolidating its control over these lithium exploration assets.

Positive

• Full consolidation of ownership (100%) of the Bourier property
• Acquisition of 203 exclusive exploration rights
• Relatively low cash payment of $30,000 for the 49% interest

Negative

• Cash outlay of $30,000 required for the buyback

MONTRÉAL, QC / ACCESS Newswire / July 2, 2025 / Critical Elements Lithium Corporation (TSX-V:CRE)(US OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce that it has entered into an Asset Purchase Agreement with Lomiko Metals Inc. ("Lomiko") for the repurchase of the 49% interest in the Bourier property that had been acquired by Lomiko following the signing of an Option Agreement in April 2021. Upon closing, the Corporation will pay Lomiko $30,000 in cash to acquire their 49% interest in 203 exclusive exploration rights, thereby regaining a 100% ownership in the Bourier property.

About Critical Elements Lithium Corporation

Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly-owned, high-purity Rose Lithium-Tantalum project in Québec, the Corporation's first lithium project to be advanced within a land portfolio of over 1,050 km². On August 29, 2023, the Corporation announced results of a new Feasibility Study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 65.7%, with an estimated after-tax net present value of US$2.2B at an 8% discount rate. In the Corporation's view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 94% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government, received the Certificate of Authorization under the Environment Quality Act from the Québec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks, and the project mining lease from the Québec Minister of Natural Resources and Forests under the Québec Mining Act.

For further information, please contact:

Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Critical Elements Lithium Corp.

View the original press release on ACCESS Newswire

FAQ

What is the value of Critical Elements Lithium's (CRECF) buyback agreement with Lomiko Metals?

Critical Elements Lithium will pay $30,000 in cash to buyback Lomiko Metals' 49% interest in the Bourier property.

How many exploration rights will Critical Elements Lithium (CRECF) gain through the Bourier property buyback?

The buyback includes 203 exclusive exploration rights, giving Critical Elements 100% ownership of these rights.

What ownership percentage will Critical Elements Lithium (CRECF) have in the Bourier property after the buyback?

After the buyback, Critical Elements Lithium will own 100% of the Bourier property, up from their previous 51% ownership.

When did Lomiko Metals originally acquire their interest in Critical Elements' (CRECF) Bourier property?

Lomiko Metals acquired their 49% interest following an Option Agreement signed in April 2021.