Lithium companies have been active in M&A lately, and more may follow after the proposed deal between Galaxy Resources and Orocobre.
Australia’s Orocobre (TSX:ORL,ASX:ORE) and Galaxy Resources (ASX:GXY,OTC Pink:GALXF) agreed this week to join forces in a AU$4 billion “merger of equals.” The deal comes as demand for lithium for electric vehicle (EV) batteries continues to pick up pace.
Once the merger is complete, the new company will become a top five lithium chemicals company globally and top three outside of China with production capacity of around 40,000 tonnes of lithium carbonate equivalent per year.
Electric Royalties Ltd. is pleased to announce that further to news release of the Company dated March 10, 2021 regarding the acquisition of the Middle Tennessee Mine royalty, the Company has entered into a letter of intent (“LOI”) with Sprott Resource Streaming and Royalty to help fund the acquisition.
Electric Royalties Ltd. (TSXV: ELEC)
(“Electric Royalties” or the “Company”) is pleased to announce that further to news release of the Company dated March 10, 2021 regarding the acquisition of the Middle Tennessee Mine (“MTM”) royalty, the Company has entered into a letter of intent (“LOI”) with Sprott Resource Streaming and Royalty (“Sprott Streaming”) to help fund the acquisition.
Cuspis“) are pleased to announce that they have completed their previously announced qualifying transaction (the “
Transaction“) under TSX Venture Exchange (“
TSXV“) Policy 2.4 –
The Transaction was completed by way of statutory plan of arrangement under the
Business Corporations Act (Ontario). Pursuant to the Transaction, the Company has acquired 100% of the issued and outstanding shares in the capital of Cuspis (“
Cuspis Shares“) in exchange for the issuance of 6,162,072 ordinary shares in the capital of the Company (“
Shares“) to the former shareholders of Cuspis. The Company also issued 604,500 stock options (“
Options“) of the Company to former holders of stock options of Cuspis, with each Option being exercisable to purchase one Share at a price of C$0.4963 until March 12, 2024. In connection with the Transaction, the Company also issued 291,880 Shares to Tri View Capital Ltd. (“
Cobalt has seen wild price swings in the past is this time different? Anthony Milewski of Nickel 28 Capital shares his thoughts.
This opinion piece was submitted to the Investing News Network (INN) by Anthony Milewski, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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