NORTH ARROW SELLS NORTHWEST TERRITORIES LITHIUM PROPERTIES TO Li-FT POWER
VANCOUVER, BC, Dec. 19, 2024 /CNW/ – North Arrow Minerals Inc. (TSXV: NAR) (“North Arrow” or the “Company”) is pleased to announce it has agreed to sell three lithium properties located in the Northwest Territories Canada to Li-FT Power Ltd. (“Li-FT“) (TSXV: LIFT) in exchange for 250,000 common shares of Li-FT.
Ken Armstrong, President and CEO of North Arrow, stated,
We are pleased to proceed with this transaction as it provides North Arrow with exposure to the continued evaluation of these NWT lithium properties as well as Li-FT’s advanced Yellowknife Lithium Project, while allowing our team to focus on exploration of the Kraaipan Gold Project in Botswana, where geophysical surveys, geochemical baseline analyses and target evaluation are currently underway.
On closing the transaction, North Arrow will transfer to Li-FT a 100% interest in twenty mineral claims and mining leases comprising the DeStaffany, LDG and MacKay lithium properties, subject to existing royalty interests on the DeStaffany and LDG properties. The transfer will also include certain rights and interests in existing land use permits and associated reclamation bonds. The transaction is subject to a number of terms and conditions including approval of the TSX Venture Exchange.
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NORTH ARROW SELLS NORTHWEST TERRITORIES LITHIUM PROPERTIES TO Li-FT POWER, source
