Brief: Frontier Lithium And Mitsubishi Corporation Form Joint Venture

Frontier Lithium

04/03/2024 11:05

March 4 (Reuters) - Frontier Lithium Inc  FL.V :
    * FRONTIER LITHIUM AND MITSUBISHI CORPORATION FORM JOINT
VENTURE
TO ADVANCE THE FIRST FULLY INTEGRATED LITHIUM OPERATION IN
ONTARIO, CANADA
    * FRONTIER LITHIUM INC -  UNDER TERMS OF AGREEMENT, SIGNED
ON
MARCH 2, 2024, MITSUBISHI WILL ACQUIRE AN INITIAL 7.5% INTEREST
IN PROJECT FOR C$25 MILLION
    * FRONTIER LITHIUM INC - FRONTIER WILL CONTRIBUTE ALL ASSETS
RELATED TO PROJECT IN EXCHANGE FOR A 92.5% INTEREST IN JV AND
WILL SERVE AS MANAGER OF JV
    * FRONTIER LITHIUM INC - UPON COMPLETION OF DFS MITSUBISHI
WILL
HAVE RIGHT TO INCREASE ITS INTEREST IN JV TO 25% THROUGH
PURCHASE OF ADDITIONAL SHARES
    * FRONTIER LITHIUM INC - POST COMPLETION OF DFS, MITSUBISHI
WILL
HAVE RIGHT TO ACQUIRE AN ADDITIONAL 17.5% INTEREST IN JV
    * FRONTIER LITHIUM INC -  UNDER DEAL MITSUBISHI WILL WORK
WITH
FRONTIER IN ARRANGING PROJECT FINANCING TO ENSURE PROJECT IS
FULLY FUNDED TO PRODUCTION

Source text for Eikon:  ID:nCNWbb1Wva 
Further company coverage:  FL.V 

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