- MAX Power (MAXX) has acquired lithium properties in the James Bay District’s Corvette Camp
- The purchase is comprised of nearly 100 sq. km of claims near the CV Lithium Trend and Patriot Battery Metals’ (PMET) Corvette lithium discovery in Quebec
- Vendor Canadian Li received 3,500,000 common shares and 1,000,000 warrants
- Planning for a 2023 exploration program is underway
- MAX Power is an exploration-stage resource company targeting North American lithium resources
- MAX Power (MAXX) is up by 2.53 per cent, trading at $0.81 per share
MAX Power (MAXX) has acquired lithium properties in the James Bay District’s Corvette Camp.
The purchase is comprised of nearly 100 sq. km of claims over two claim blocks – Corvette Lake North and Corvette Lake South – near the CV Lithium Trend and Patriot Battery Metals’ (PMET) Corvette lithium discovery in Quebec.
Historical reports, government data and recent reconnaissance substantiate pegmatite occurrences on Corvette Lake North, just 5 km south of Patriot’s CV5 pegmatite discovery, which recently returned 156.9 m at 2.12 per cent Li2O.
MAX is planning a two-phase 2023 exploration program at its Corvette Camp claims with over $4 million in cash on hand.
Vendor Canadian Li received 3,500,000 MAXX common shares and 1,000,000 warrants. The warrants are exercisable at $0.85 for 36 months from the date of issuance.
All shares issued in connection with the agreement are subject to a four-month hold period under applicable Canadian securities laws.
“This important acquisition on favourable terms is a first major step for MAX Power as it positions itself in the rapidly expanding lithium sector. ‘Lithium to the MAX’ is our motto as we build out a dynamic lithium brand focused on Canada and the United States,” stated Rav Mlait, MAX Power’s CEO.
MAX Power is an exploration-stage resource company targeting domestic lithium resources to advance North America’s renewable energy prospects.
MAX Power (MAXX) is up by 2.53 per cent, trading at $0.81 per share as of 9:39 am EST.