Capella Minerals Limited (TSXV:CMIL) entered into binding letter agreement to acquire selementX Finland Oyeven Lithium and REE reservations portfolio in southern Finland from elementX Finland Oy for CAD 0.98 million on October 6, 2022. The consideration will be paid in the form of 15.1 million Capella shares. In addition, elementX will retain a 1% Net Smelter Royalty ("NSR") on any potential future metal production from the acquired portfolio. The proposed elementX transaction is subject to TSX.V Exchange approval.

Capella Minerals Limited (TSXV:CMIL) completed the acquisition of Seven Lithium and REE Reservations Portfolio in southern Finland from elementX Finland OY on October 31, 2022. Capella Minerals received Exchange acceptance.