- Lithium One Metals (TSXV:LONE) has completed its acquisition of Norris Lithium through a court-approved plan
- The company has acquired all the outstanding shares of Norris in consideration of 22.6 million of its common shares to former Norris Lithium shareholders
- Shares of Norris Lithium will now be delisted from the Canadian Securities Exchange
- Lithium One Metals is unchanged at C$0.24
Lithium One Metals (TSXV:LONE) has officially completed its acquisition of Norris Lithium through a court-approved plan.
The company stated in a news release it has now acquired all of Norris Lithium’s outstanding shares in consideration for 22.6 million of its common shares to former Norris shareholders.
As part of the acquisition, Robert Jewson and Dale Ginn have joined Lithium One’s board of directors after the resignations of Nicholas Watters and Carl Ginn as directors. Ginn has also been appointed as Lithium One Metals’ CEO after Nav Dhaliwal’s resignation and transition towards executive chairman.
Now that the acquisition has been completed, shares of Norris Lithium have been halted on the Canadian Securities Exchange and will be delisted as of market close on Wednesday (Sept. 27).
Lithium One Metals is focused on acquiring and developing high-potential lithium properties in Ontario and Quebec.
Lithium One Metals stock is unchanged at C$0.24.
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