Lithium One Metals Inc. and Norris Lithium Inc. have entered into a definitive arrangement agreement dated June 19, 2023 pursuant to which Lithium One will acquire all of the issued and outstanding common shares of Norris Lithiumon the basis of 0.672 common shares of Lithium One for each share of Norris Lithium held, by way of a plan of arrangement under the Business Corporations Act. This strategic consolidation represents a significant milestone in both companies’ growth trajectories, with Lithium One and Norris Lithium both benefiting from the creation of a large land position in James Bay, Québec, an established presence in Northwestern Ontario in a rapidly emerging lithium district, combined technical expertise, and a joint exploration program already underway. Upon the closing of the Transaction, it is expected that the shareholders of Norris Lithium will hold approximately 35% of the common shares of the combined company, with Dale Ginn being appointed as President & CEO of Lithium One, and Nav Dhaliwal assuming the role of Executive Chair of Lithium One.

This is sponsored content issued on behalf of Norris Lithium please see full disclaimer here.


More From The Market Online
Rolls of Cleveland-Cliffs steel

Cleveland-Cliffs to acquire Canadian steelmaker Stelco for $3.4B

Cleveland-Cliffs (NYSE:CLF) signs a deal to acquire Canadian steelmaker Stelco Holdings (TSX:STLC) for C$3.4 billion.
Arial photo of Black Pearl stripped outcrop area.

Significant new graphite discovery unearthed in Québec

Graphano Energy (TSXV:GEL) has made a significant new graphite discovery at its Standard East claim group in Québec.
Champion Iron Ltd. Bloom Project.

Champion Iron temporarily halts operations in response to forest fires

Champion Iron (TSX:CIA) temporarily shuts down operations at its Bloom Lake mine because of forest fires near Labrador City.
CEO Scott Caldwell and chief geologist Santiago Vaca.

SolGold secures US$750M gold stream with Osisko and Franco-Nevada

SolGold (TSX:SOLG) signs a US$750 million syndicated gold stream agreement with Franco-Nevada (TSX:FNV) and Osisko Gold Royalties (TSX:OR).