- Gold Tree Resources (GTX) has signed and closed a share purchase agreement (SPA) with 1314836 BC Ltd. (BCCo)
- The agreement is in respect of the company’s previously announced transaction, which entitles Gold Tree to acquire all of the issued and outstanding shares of BCCo
- In line with the SPA, the company has issued an aggregate of 3,000,000 common shares to the shareholders of BCCo
- The shares were issued at a deemed price of $0.20 each, representing aggregate consideration of $600,000
- Gold Tree Resources Ltd. is a Canadian-based exploration company focused on the acquisition, exploration, and development of North American mining projects
- Gold Tree Resources Ltd is up 17.65 per cent, trading at $0.30 at 10 am ET
Gold Tree Resources (GTX) has signed a share purchase agreement (SPA) with 1314836 BC Ltd. (BCCo).
Under the agreement, Gold Tree will acquire all of the issued and outstanding shares of BCCo.
BCCo’s principal asset and undertaking is its wholly-owned subsidiary Lithium Valley Holdings Corp., which owns the McDermitt Lithium Property located in Nevada, USA.
“We see the potential for the property to host large-scale, long-life sources of lithium, occurring near-surface and falling within the lower end of the global cost curve,” said Adrian Smith, Gold Tree’s CEO.
“The project is located in a mining-friendly jurisdiction with significant domestic lithium demand that is currently satisfied by imported material., and we also see the opportunity to rapidly advance the project through the exploration stage to create significant value for the company,” he added.
In line with the SPA, the company has issued an aggregate of 3,000,000 common shares to the shareholders of BCCo at a deemed price of $0.20 per share.
Gold Tree Resources Ltd. is a Canadian-based exploration company focused on the acquisition, exploration, and development of North American mining projects.
Gold Tree Resources Ltd is up 17.65 per cent, trading at $0.30 at 10 am ET.