Spey Resources Corp. (TSE:SPEY) has released an update.
Spey Resources Corp. has entered an agreement to option its 80% stake in the Candela II Lithium Brine Project to American Salars, with a deal structure involving over CAD$1.95 million in cash and more than 5 million common shares staggered over five years. Additionally, Spey will retain a 12% Net Smelter Royalty, offering American Salars a buyout option for this royalty. The deal solidifies Spey’s financial position and American Salars’ resource portfolio in Argentina’s lithium-rich Incahuasi Salar.
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