(NewsDirect)
Lithium Australia Ltd(ASX:LIT, OTC:LMMFF) CEO Simon Linge tells Proactive the company hassigned a binding agreement to sell its remaining interest in the LakeJohnson Lithium Project to Charger Metals Ltd, bringing Charger'sinterest in the asset to 100%. LIT will receive $2 million in returnfor the sale and retains first right of refusual for an offtakeagreement on commercial terms for up to 30% of lithium productsproduced from the project.
Linge said:“We are excited by the opportunity to engage with Charger Metalsregarding the sale of Lithium Australia’s remaining holding in theLake Johnston Lithium Project. As a significant shareholder ofCharger, we are excited by the partnership between Rio Tinto andCharger and believe this provides a win-win outcome for all. Thetransaction reaffirms our commitment to focusing on our coreoperations, while aligning the company to its ESGambitions."
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Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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