- Zangge Mining Investment has received an order from the Government of Canada to divest its interest in Ultra Lithium
- Ultra Lithium and Zangge have also mutually agreed to terminate the definitive agreement with respect to the Laguna Verde property
- The company is assessing its legal and other options to preserve value for its shareholders
- Ultra Lithium is proceeding with planned work programs at its properties in Northern Ontario and Argentina
- Ultra Lithium Inc. is an exploration and development company with a focus on the acquisition and development of lithium, gold, and copper assets
- Ultra Lithium Inc. opened trading at C$0.07
Zangge Mining Investment has received an order from the Government of Canada to divest its interest in Ultra Lithium (ULT).
Ultra Lithium and Zangge have also mutually agreed to terminate the definitive agreement with respect to the Laguna Verde property announced on June 20, 2022.
The management team at Ultra Lithium is very surprised at Canada’s policy against Chinese investment in Canada’s lithium projects and believes that the announcement has been detrimental to the company’s many Canadian shareholders. The company is assessing its legal and other options to preserve value for its shareholders.
Ultra Lithium is in full support of Canada’s push toward clean energy and has been committed to lithium and green energy since 2009. As a junior exploration company Ultra Lithium and many of its peers will require significant capital to bring their projects to production and build Canada’s critical minerals supply chain.
Ultra Lithium encourages the federal government to actively follow through on its commitment to Canadian businesses to identify and find alternative sources of capital and to retain Canada’s status as a stable and top-tier mining destination.
Ultra Lithium is proceeding with planned work programs at its properties in Northern Ontario and Argentina.
Ultra Lithium Inc. is an exploration and development company with a focus on the acquisition and development of lithium, gold, and copper assets.
Ultra Lithium Inc. opened trading at C$0.07.