BlueBird Battery Metals Inc. (TSXV:BATT) entered into binding letter of intent to acquire Southern Lithium Pty Ltd for CAD 5 million on April 1, 2019. Under the terms of letter of intent which will be formalized by a definitive agreement, BlueBird Battery Metals Inc. will issue shares equals to CAD 2.5 million. If within four years of closing, Bluebird publicly announces an inferred resource of minimum 15 million tonnes at a grade of greater than 1% Li2O from the Southern Lithium project, an additional CAD 1.5 million shares will be issued. If within four years of closing, Bluebird announces the execution of an off-take agreement for sale of minimum of 0.2 million tonnes of concentrate at a minimum grade of 5% Li2O or minimum 0.5 million tonnes of ore at grade greater than 1.2% Li2O from Southern Lithium Project, an additional CAD 1 million of Bluebird common shares will be issued. A net smelter royalty of 2.5% will apply to all minerals sold from the project. The transaction is subject to acceptance of the TSX Venture Exchange.