Future Battery Minerals Ltd (ASX: FBM) has advised that it has executed a share sale agreement with Austroid, an emerging global clean energy company headquartered in Dallas, USA, for the sale of the company’s 80% shareholding in Nevada Lithium Corp Pty Ltd, which holds the rights to the NLP in Nevada, USA, via its wholly owned subsidiary Nevada Li Corp.
FBM managing director, Nicholas Rathjen, commented, “We are very pleased with the terms agreed for the sale of our interest in the NLP. While this asset offers largescale claystone lithium development potential, we strongly believe that focusing on our highly prospective lithium assets in the W.A. Goldfields will deliver the best returns for our shareholders.”
Disposal of the NLP allows sharpened focus on FBM’s flagship Kangaroo Hills Lithium Project (KHLP) and Miriam Lithium Project (Miriam) in the W.A. Goldfields region and provides maximal leverage to the combination of belt-scale prospectivity within these projects with excellent regional infrastructure in the W.A. Goldfields, and FBM’s proven Australian-based operational team.
Under the terms of the agreement, the company has agreed to sell all of its shares in Nevada Lithium Corp Pty Ltd (Nevada Australia) for a total cash consideration of A$4M, payable as follows:
- A$50,000 non-refundable deposit (already received)
- A$3,950,000 on completion
To find out more, please visit www.futurebatterymetals.com
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