Green Technology Metals Limited (ASX:GT1) entered into binding agreement to acquire remaining 20% stake in Ontario Lithium Projects from Ardiden Limited (ASX:ADV) A$16 million on October 24, 2022. Upon completion, moves GT1 to 100% ownership of the Ontario Lithium Projects, including its flagship Seymour Mine Development (currently in PEA phase).The Binding Agreement contains provisions pertaining to pre-completion conduct, warranties and indemnities that are customary for a transaction of this nature. A milestone payment of a further A$2.5 million cash, payable upon JORC-compliant Mineral Resources of more than 20 million tonnes being defined across the Ontario Lithium Projects.
Green Technology Metals Limited (ASX:GT1) completed the acquisition of remaining 20% stake in Ontario Lithium Projects from Ardiden Limited (ASX:ADV) on October 28, 2022.