- Rock Edge (REDG) completes previously announced acquisition of 1403437 BC Ltd.
- 1403437 BC Ltd. holds a 100-per-cent undivided interest in the Val-d’Or East mineral claims in Quebec, consisting of 90 mining claims covering 5,292 hectares
- The claims are near operations by Sayona, Nameska and Brunswick Exploration
- Consideration includes $60,000 in cash and 750,000 REDG shares and accompanying warrants
- President David Hamilton-Smith spoke with Simon Druker about the news
- Rock Edge Resources is focused on acquiring and exploring critical mineral, base metal and precious metal properties
- Rock Edge (REDG) last traded at $0.08 per share
Rock Edge (REDG) completes previously announced acquisition of 1403437 BC Ltd.
1403437 BC Ltd. holds a 100-per-cent interest in the Val-d’Or East mineral claims in Quebec, consisting of 90 mining claims covering 5,292 hectares. The property is located 30 km southeast of Val-d’Or and accessible via the regional 117 highway.
The Réservoir Decelles Batholith is 1-3 km away from the claims and consists of a heterogeneous granite with muscovite-pegmatites.
Rock Edge’s acquisition is contiguous to Sayona Mining (ASX: SYA) and Brunswick Exploration property.
The claims are 65 km southeast from The North American Lithium processing plant (A Piedmont/Sayona joint venture), which just produced its first batch of spodumene concentrate (SC6).
Additionally, Sayona is set to commission a lithium hydroxide refinery 70 km southeast of the property, while Nameska is planning a refinery about 200 km southeast of the property.
Consideration includes a cash payment of $30,000 upon closing and a cash payment of $30,000 on or before April 12, 2024.
1403437 BC Ltd. shareholders also received 750,000 REDG units priced at $0.10. The units consist of 750,000 REDG common shares and 750,000 common share purchase warrants. Each warrant entitles the holder to purchase one common share for $0.20 until April 12, 2026.
President David Hamilton-Smith spoke with Simon Druker about the news.
Rock Edge Resources is focused on acquiring and exploring critical mineral, base metal and precious metal properties with an emphasis on Quebec and the Northwestern Ontario Lithium Belt.
Rock Edge (REDG) last traded at $0.08 per share.
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