Infinity Stone Ventures Corp. has announced that it has entered into a mineral property purchase agreement pursuant to which it will acquire a 100% interest in and to 72 mining claims located on ground adjacent to the Frontier Lithium, PAK Lithium project in the Red Lake Mining District, Ontario.
The claims to be acquired are known as the PAK South Project and PAK Southeast Project. In consideration for the Projects, the Company will pay $30,000 in cash and issue 2,000,000 class A subordinate voting shares of the Company to the arms-length vendors within five business days of the date of the Agreement.
As the deal has just been signed, a Qualified Person (as such term is defined under NI 43-101) is reviewing information respecting the Projects.
“With Frontier Lithium announcing on February 16, 2022 405 meters of 1.5% Li2O, combined with upcoming increases in lithium battery production capacity in North America that will require increased supply of lithium, the opportunity presented by the PAK South and PAK Southeast acquisitions is timely“, said Infinity Stone CEO, Zayn Kalyan. “We are excited to add our first energy metal project to the Company’s diversifying portfolio, alongside our SaaS solutions Healthcheck and Contakt,” added Mr. Kalyan.
Source:batteryindustry
