LION CSE GBBGF. OTCQB 0TD. F
Vancouver, British Columbia, Canada (Nov 6, 2019) – Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) has amended its original agreement (the “Agreement”) with Callinex Mines Inc. (TSX.V:CNX) (“Callinex”) dated October 27, 2017 to option a 100% interest in the Neuron Graphite Project (the “Project”). The Neuron Graphite Project is an exciting high-grade graphite discovery located near the Nickel-Copper-Cobalt PGE mining centre of Thompson, Manitoba.
Under the terms of the Agreement, Global Li-Ion can earn 100% interest in the Project by paying $200,000 CAD and issuing 1,000,000 common shares upon signing, issuing 1,000,000 common shares on the second anniversary of the date of the agreement, and issuing 3,000,000 common shares upon completion of a preliminary economic assessment, pre-feasibility study or feasibility study on or before the third anniversary of the date of the agreement.
The Company has agreed to extend the deadline of the share issuance obligation of 1,000,000 common shares by the second anniversary of the date of the agreement by one full year. In consideration for this extension, the Company will issue an additional 250,000 common shares to Callinex. All shares issued will be subject to a statutory hold period of four months plus a day from the respective date of issuance in accordance with applicable securities legislation.
All other terms and conditions of the Agreement shall remain in full force and effect.
Further information about Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and the Company’s website, www.globalli-iongraphite.com.
For Further information about the Company, please contact:
Director & Officer
Global Li-Ion Graphite Corp.