Edison Lithium Corp. (TSXV:EDDY) entered into an asset purchase agreement to acquire an Additional Sodium Brine Claim in Saskatchewan from Globex Mining Enterprises Inc. (TSX:GMX) for CAD 0.25 million on April 8, 2024. Under the terms of the Agreement, Globex shall transfer all of its right, title and interest in the Alkali Disposition to Edison in exchange for (a) a cash payment of CAD 0.2 million payable to Globex by the Company; (b) the issuance of such number of common shares in the capital of Edison (the ?Consideration Shares?) having an aggregate value of CAD 0.05 million based on the five day volume weighted average closing price per Consideration Share of the Company?s shares on the TSX Venture Exchange preceding the date hereof, in favour of Globex; and (c) payment to Globex of a royalty of 2% of gross revenue from Commercial Production (as such term is defined in the Agreement) of mineral products by Edison.

The Consideration Shares to be issued in connection with the Agreement shall be subject to a statutory hold period of four months from the date of issuance. The Agreement, including the issuance of the Consideration Shares and all other transactions contemplated by the Agreement, remain subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.