BRAILLE ENERGY SYSTEMS INC.
The Property is located in the Labrador Trough sector of Nunavik, the northern division of the Nord-du-Quebec administrative region. The Property straddles the junction between NTS 1:50,000-scale topographic sheets 24K-03 (Lac Geridot) and 24K-04 (
Consideration for the Property is anticipated to be: (i) cash in the amount of
The proposed acquisition of the Property remains subject to standard closing conditions, including a satisfactory title review by Stria, the execution of the property acquisition agreement, and
Braille holds an 89.95% equity interest in
The proposed acquisition of the Property is considered a non-arm's length party transaction pursuant to the policies of the Exchange as certain directors and officers act for both Stria and Braille. Both Stria and Braille will seek the requisite Exchange approvals in order to complete the proposed transaction. No new control person will be created on closing of the proposed transaction, non-arm's length parties will not receive more than 10% of the issued and outstanding shares of Stria as consideration for the Property, and the Property does not represent a sale of more than 50% of Braille's assets, business, or undertaking. No finders fee is payable by either party with respect to the transactions described herein.
About
Lithium is a critical metal in the universal fight against global warming. It is a core component of Lithium-ion batteries used for powering electric vehicles and for industrial scale energy storage.
About
Forward-Looking Statement
This News Release contains 'forward-looking information' within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business and operations and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
Contact:
Tel: 514-771-3398
Email: kimberly@refinedsubstance.com
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