United Lithium Corp. announced that it has increased its ownership in the Kietyönmäki Lithium Project (?Kietyönmäki? or the ?Project?) to 100% after acquiring Tammela Minerals Oy?s (?Tammela?) 16.4% minority interest in Litiumlöydös Oy (?Litiumlöydös?), the Finnish entity that holds the rights to the Project (the ?Acquisition?).

Tammela is a wholly-owned subsidiary of Nortec Minerals Corp. As consideration for the Acquisition, the Company paid Nortec $200,000 in cash, in exchange for 490 common shares of Litiumlöydös from Tammela, representing the 16.4% minority interest. As a condition of closing, all involved parties entered into a Deed of Variation for the purposes of removing Litiumlöydös and United Lithium as parties to a joint venture agreement, extinguishing Tammela?s right to any royalties on any future production at the Project.

United Lithium acquired its interest in Litiumlöydös in early 2022 via a transaction with a consortium to purchase 83.6% of the issued and outstanding common shares of Litiumlöydös, which holds a 100% interest in the licenses that comprise Kietyönmäki. Following the completion of this initial transaction, the Company expanded the Project by 535 hectares (?ha?), bringing the total land package to 900 ha. In 2023, United Lithium acquired the new claim reservation over a new parcel located 6.1 km to the southeast of Kietyönmäki, referred to as Salkola, covering 20,170 ha, bringing the total size of the Finland portfolio to 21,070 ha.