logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Green Shift Closes Acquisition Of The Rio Negro Hard Rock Lithium Project And Appoints New Executive Chairman

Mar 20, 2023•over 2 years ago

Acquiring Company

Green Shift Commodities Ltd

Acquired Company

Rio Negro Hard Rock Lithium Project

TorontoEnergyManufacturingRenewable Energy

Description

Green Shift Commodities Ltd. (TSXV: GCOM), (“Green Shift”, “GCOM” or the “Company”) is pleased to announce that is has closed the previously announced acquisition (the “Acquisition”) of LFP Resources Corp. (“LFP”), a privately owned Canadian exploration company, which holds an aggregate of approximately 300,000 hectares (“Ha”) of prospective lithium ground in Rio Negro, Chubut, and Neuquén Provinces in Argentina (the “Rio Negro Project” or “Project”) with the option to acquire approximately 200,000 additional Ha. Key aspects of the acquisition include:

Company Information

Company

Green Shift Commodities Ltd

Location

Toronto, Ontario, Canada

About

Green Shift Commodities Ltd. Green Shift Commodities Ltd. is focused on the exploration and development of commodities needed to help decarbonize and meet net-zero goals. The Company is advancing a portfolio of lithium prospects which includes the recently acquired Rio Negro Project in Argentina, a district-scale project in an area known to contain hard rock lithium pegmatite occurrences that were first discovered in the 1960s with little exploration since, and the Armstrong Project, located in the Seymour-Crescent-Falcon lithium belt in northern Ontario, known to host spodumene-bearing lithium pegmatites and significant discoveries. The Company is developing the Berlin Deposit in Colombia. Apart from uranium, for clean nuclear energy, the Berlin Deposit contains battery commodities including nickel, phosphate, and vanadium. Phosphate is a key component of lithium-ion ferro-phosphate (“LFP”) batteries that are being used by a growing list of electric vehicle manufacturers. Nickel is a component of various lithium-ion batteries, while vanadium is the element used in vanadium redox flow batteries. Neodymium, one of the rare earth elements contained within the Berlin Deposit, is a key component of powerful magnets that are used to increase the efficiency of electric motors and in generators in wind turbines.

Related People

Sign in to view contact details

Sign in to view contact details

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed