Megawatt Lithium And Battery Metals Corp. (TSE:MEGA) has released an update.
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MegaWatt Lithium and Battery Metals Corp. has announced a share exchange agreement to fully acquire Labrador Mineral Resources Inc., including its 100% interest in the Benedict Mountains Uranium Property in Labrador. The deal, pending regulatory approval, entails issuing over 16 million MegaWatt shares to Labrador’s shareholders, who will own approximately 44.61% of MegaWatt post-acquisition. Additionally, MegaWatt will adhere to the original Property Purchase Agreement’s terms, including a $25,000 cash payment and a royalty agreement on future net smelter returns.
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