Power Metals Corp. (TSXV:PWM) signed a definitive agreement to acquire Lithium Brine Permit Portfolios in Alberta from Ryan Kalt and Maciej Lis for CAD 1.5 million on January 26, 2017. Under the terms of the agreement, Power Metals will acquire the Alberta Lithium Brine Project including its 23 Metallic and Industrial Minerals Permits. As part of the consideration, Power Metals will issue 5 million of its common shares. The transaction is subject to regulatory approvals, including approval by the TSX Venture Exchange. On February 7, 2017, it was announced that the transaction has been accepted for filing documentation by TSX Venture Exchange.