CSE: CDN
OTCQB: AXVEF
The Nevasca Property, located in the Arizaro Salar in the Province of
The terms of the Purchase Agreement allow NOAL to acquire the Property in consideration for the following cash payments and share issuances (cash payments and share issuances are in USD):
$50,000 in cash upon signing- 40 days ("Effective Date") after due diligence period:
$150,000 of NOAL shares - 6 months from Effective Date:
$150,000 in cash and issuance of$150,000 of NOAL shares - 12 months from Effective Date:
$250,000 in cash and issuance of$250,000 of NOAL shares - 18 months from Effective Date:
$500,000 in cash and issuance of$500,000 of NOAL shares
All share payments owing to Maverick pursuant to the Purchase Agreement will be calculated based upon most recent closing price of NOAL shares on the
A 3% NSR on the Property will be retained by Maverick that can be purchased by NOAL for an additional
Within 18 (eighteen) months as from the Effective Date, NOAL assumes the commitment to perform exploration works and investments in the amount of
The Purchase Agreement will enable both companies to leverage each other's expertise and resources to accelerate exploration efforts and unlock the potential value of their combined assets. CDN will benefit from NOAL's ongoing exploration activities at the
This transaction will strengthen and diversify the Company's portfolio and enhance the Company's current cash position. Maverick intends to continue to expand its exposure to lithium exploration by diversifying its asset base and capturing potential upside across multiple projects.
The Company is at arms-length from NOAL. No finders' fees or commissions are payable in connection with the entering into of the Purchase Agreement. Completion of the transaction contemplated by the Purchase Agreement remains subject to the receipt of any required regulatory approvals.
ON BEHALF OF THE BOARD OF DIRECTORS
Founder, Chairman and Director
sandyjmacdougall@gmail.com
C: 778.999.2159
CEO
Adam@CDNMaverick.com
C: 905.510.8890
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE
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