- Spey Resources (SPEY) acquires Tech One Lithium Resources Corp
- As consideration for Spey’s purchase of the Tech One shares, Spey issued an aggregate of 23.5 million shares to the vendors
- Tech One has optioned the project from AIS Resources Corp. under an amended and restated exploration joint venture agreement
- AIS’s management team, headed by Phillip Thomas, will be managing the project pursuant to the Option Agreement
- Spey Resources Corp. (SPEY) is up 26.67 per cent and is trading at C$0.28 at 1:28 pm ET
Spey Resources Corp. (SPEY) has entered into a Share Purchase Agreement with the shareholders of Tech One Lithium Resources Corp.
Spey has purchased all of Tech One’s issued and outstanding shares.
As consideration for the purchase, Spey issued an aggregate of 23.5 million shares to the vendors.
Tech One has the option to acquire 100 per cent of the mineral concessions of the Candella II project located within the prolific Lithium Triangle, in the Salta Province of Argentina.
Candella II covers 300 hectares, is represented by the mineral claim number 23262 located in the Incahuasi Salar, and is road accessible.
Tech One has optioned the project from AIS Resources Corp. under an amended and restated exploration joint venture agreement dated April 21, 2021, between Tech One and AIS.
AIS’s management team, headed by Phillip Thomas, will be managing the project pursuant to the Option Agreement.
AIS has a combined experience of over 35 years in lithium brine projects.
Spey Resources chief executive officer and director Nader Vatanchi states, “We are electrified to be involved in this project given the global need and demand for lithium and battery metals.”
“We are excited to have AIS Resources managing our Argentinian operations as their team has decades of experience with lithium brine exploration and production,” added Vatanchi.
Spey Resources is a Canadian mineral exploration company that holds an option to acquire 100 per cent interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina.
Spey Resources Corp. (SPEY) is up 26.67 per cent and is trading at C$0.28 at 1:28 pm ET.
