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- Lithium Ionic’s (OTCQX:LTHCF) wholly owned subsidiary, Lithium Ionic Bandeira Corp, has executed a definitive royalty agreement with ANRF LI, an affiliate of Appian Capital Advisory, granting a 2.25% gross revenue royalty in exchange for upfront cash consideration of $20 million.
- Lithium Ionic (OTCQX:LTHCF) intends to use the proceeds from the Royalty to advance the development and construction of its Bandeira Lithium Project, located within the Lithium Valley in Minas Gerais State, Brazil.
- Additionally, funds will be allocated for general corporate purposes and working capital requirements.
- Source: Press Release