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Lithium Ionic Executes US$20 Million Royalty Agreement with Appian Capital

Jun 28, 2024•almost 2 years ago

Contract Type

agreement

TorontoMining

Description

Lithium Ionic Corp. has executed a definitive royalty agreement with Appian Capital Advisory LLP, granting a 2.25% gross revenue royalty in exchange for upfront cash consideration of US$20,000,000. The proceeds will be used to advance the development and construction of the Bandeira Lithium Project in Brazil.

Company Information

Company

Lithium Ionic

Location

Toronto, Ontario, Canada

About

Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in Brazil. Its flagship Itinga and Salinas projects cover 14,668 hectares in the northeastern part of Minas Gerais state, a mining-friendly jurisdiction that is quickly emerging as a world-class hard-rock lithium district. The Itinga Project is situated in the same region as CBL’s Cachoeira lithium mine, which has produced lithium for +30 years, as well as Sigma Lithium Corp.’s Grota do Cirilo project, which hosts the largest hard-rock lithium deposit in the Americas.

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