- Arizona Lithium ( OTCQB:AZLAF ), a company focused on the sustainable development of the Big Sandy Lithium Project in Arizona, has agreed to acquire, directly or indirectly through a subsidiary, all shares of Prairie Lithium for total consideration of ~C$70.6M, consisting of C$40M in cash and 500M common shares of AZL at a deemed price of C$0.0612 per share.
- Prairie Lithium is a private lithium resource and technology developer situated in the heart of the resource-rich Williston Basin in Saskatchewan, Canada.
- Transaction is expected to close on or about February 28, 2023.
For further details see:
Arizona Lithium to acquire Prairie Lithium for ~C$70.6M