CDSG - China Dongsheng buys lithium projects in Tanzania

• China Dongsheng ( OTCPK:CDSG ) on Monday announced that it has entered into agreement with Kilimanjaro Lithium, to earn up to a 100% interest in several prospecting licenses that make up two large projects in Tanzania.
• The company will acquire an immediate 80% interest in the PL’s by issuing 133 million common shares at a deemed value of $6.7 million.
• After CDSG has attained initial 80% ownership, the company shall be responsible for exploration and development expenditures and shall make payments totaling $350,000.00 over the next 9 months.
• To attain the final 20% interest in the properties, CDSG will make further payments of $1 million for each additional 5% interest for the full 100% interest for an aggregate payment of $4 million of additional payments.
• A 3% NSR on production of the properties has been retained by the licensor, however, CDSG has the exclusive right to purchase up to 2% of the NSR for $1 million per 1%, for an aggregate of up to $2 million.
• Press Release .

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