Edison Lithium Provides Update on Sale of Interest in Argentinian Lithium Properties
Edison Lithium Corp (TSXV: EDDY) (OTC: EDDYF) has provided an update on the proposed sale of its Argentina subsidiary, Resource Ventures S.A. (ReVe), to Mava Gasoil The transaction, valued at USD$3.5 million, is progressing with Mava's legal counsel finalizing the draft definitive agreement expected this week.
Mava has already provided an initial deposit of USD$100,000. Upon closing, additional payments of USD$3.2 million will be made to Edison, with two separate USD$100,000 payments to ReVe's other shareholders. The deal remains subject to conditions including definitive agreement execution, TSX Venture Exchange final acceptance, and receipt of the remaining purchase price.
Edison Lithium Corp (TSXV: EDDY) (OTC: EDDYF) ha fornito un aggiornamento sulla proposta vendita della sua filiale argentina, Resource Ventures S.A. (ReVe), a Mava Gasoil. L'operazione, del valore di 3,5 milioni di USD, è in fase di avanzamento con il consulente legale di Mava che sta finalizzando la bozza dell'accordo definitivo prevista per questa settimana.
Mava ha già versato un deposito iniziale di 100.000 USD. Alla chiusura, saranno effettuati ulteriori pagamenti per 3,2 milioni di USD a Edison, oltre a due pagamenti separati di 100.000 USD agli altri azionisti di ReVe. L'accordo resta soggetto a condizioni, tra cui la firma dell'accordo definitivo, l'approvazione finale da parte della TSX Venture Exchange e il ricevimento del prezzo d'acquisto residuo.
Edison Lithium Corp (TSXV: EDDY) (OTC: EDDYF) ha proporcionado una actualización sobre la propuesta venta de su subsidiaria en Argentina, Resource Ventures S.A. (ReVe), a Mava Gasoil. La transacción, valorada en 3,5 millones de USD, avanza con el asesor legal de Mava finalizando el borrador del acuerdo definitivo que se espera esta semana.
Mava ya ha entregado un depósito inicial de 100,000 USD. Al cierre, se realizarán pagos adicionales de 3,2 millones de USD a Edison, junto con dos pagos separados de 100,000 USD a los otros accionistas de ReVe. El acuerdo está sujeto a condiciones, incluyendo la ejecución del acuerdo definitivo, la aceptación final de la TSX Venture Exchange y la recepción del precio de compra restante.
Edison Lithium Corp (TSXV: EDDY) (OTC: EDDYF)는 아르헨티나 자회사인 Resource Ventures S.A. (ReVe)를 Mava Gasoil에 매각하는 제안에 대한 최신 정보를 제공했습니다. 이번 거래는 미화 350만 달러 규모로, Mava의 법률 자문이 이번 주 중으로 최종 계약서 초안을 마무리할 예정입니다.
Mava는 이미 미화 10만 달러의 초기 보증금을 지급했습니다. 거래 종료 시, Edison에는 추가로 미화 320만 달러가 지급되며, ReVe의 다른 주주들에게는 각각 미화 10만 달러씩 두 차례 지급됩니다. 이 거래는 최종 계약서 체결, TSX 벤처 거래소의 최종 승인, 잔금 수령 등 조건부로 진행됩니다.
Edison Lithium Corp (TSXV : EDDY) (OTC : EDDYF) a fourni une mise à jour concernant la vente proposée de sa filiale argentine, Resource Ventures S.A. (ReVe), à Mava Gasoil. La transaction, d'une valeur de 3,5 millions USD, progresse avec le conseiller juridique de Mava qui finalise le projet d'accord définitif attendu cette semaine.
Mava a déjà versé un acompte initial de 100 000 USD. À la clôture, des paiements supplémentaires de 3,2 millions USD seront effectués à Edison, ainsi que deux paiements distincts de 100 000 USD aux autres actionnaires de ReVe. L'accord reste soumis à des conditions, notamment la signature de l'accord définitif, l'acceptation finale par la TSX Venture Exchange et la réception du solde du prix d'achat.
Edison Lithium Corp (TSXV: EDDY) (OTC: EDDYF) hat ein Update zum geplanten Verkauf seiner argentinischen Tochtergesellschaft Resource Ventures S.A. (ReVe) an Mava Gasoil gegeben. Die Transaktion im Wert von 3,5 Millionen USD schreitet voran, wobei der Rechtsberater von Mava den Entwurf der endgültigen Vereinbarung voraussichtlich noch diese Woche fertigstellen wird.
Mava hat bereits eine Anzahlung von 100.000 USD geleistet. Beim Abschluss werden weitere Zahlungen in Höhe von 3,2 Millionen USD an Edison erfolgen, sowie zwei separate Zahlungen von jeweils 100.000 USD an die weiteren Anteilseigner von ReVe. Der Deal steht unter Vorbehalt der Ausführung der endgültigen Vereinbarung, der endgültigen Annahme durch die TSX Venture Exchange und dem Eingang des restlichen Kaufpreises.
- Sale of Argentina subsidiary for USD$3.5 million total consideration
- Initial deposit of USD$100,000 already received
- Definitive agreement expected to be finalized this week
- Transaction still subject to multiple closing conditions
- Final agreement not yet executed
- Majority of payment (USD$3.4 million) still pending receipt
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2025) - Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to provide an update regarding the proposed sale of its Argentina subsidiary, Resource Ventures S.A. ("ReVe"), to Mava Gasoil LLC ("Mava").
Further to its prior news releases on this proposed disposition, the Company has been advised that Mava's legal counsel is finalizing the draft definitive agreement, which is expected to be delivered to the Company by the end of this week. The parties intend to proceed with closing the transaction upon finalization of the definitive agreement and satisfaction of closing conditions.
The Company previously received an initial deposit of USD
The transaction remains subject to, among other conditions, the negotiation and execution of a definitive agreement, TSX Venture Exchange final acceptance, and receipt of the balance of the purchase price.
About Edison Lithium Corp.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.
On behalf of the Board of Directors:
"Nathan Rotstein"
Nathan Rotstein
Chief Executive Officer and Director
For more information please contact:
Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com
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.
Forward-Looking Disclaimer: This news release contains certain forward-looking statements. Statements that are not historical facts, including statements about Edison's beliefs and expectations, are forward- looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "will be", "expected," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue,", "proposes", "contemplates", "is/are likely to" or other similar expressions. All information provided in this news release is as of the date of this news, and the Company undertakes no duty to update such information, except as required under applicable law.
Forward-looking statements in this press release relate to, among other things: the delivery of a draft definitive agreement and timing thereof, the negotiation and execution of the definitive agreement, the receipt of final TSX Venture Exchange approval for the disposition, the closing of the transaction, and the receipt of the purchase price. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: determination of acceptable terms for the proposed definitive agreement, receipt of final TSXV approval required for the disposition, and receipt of the purchase price. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248876
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