TORONTO, ONTARIO -- (Marketwired) -- 08/10/17 -- Routemaster Capital Inc. (TSX VENTURE: RM) ("Routemaster" or the "Company") received notice from Aberdeen International Inc. that it intended to exercise its right to acquire from the Company a 1.0% net smelter returns royalty in respect of the Sal de los Angeles lithium project in Argentina. Aberdeen acquired a right to purchase the 1.0% royalty from Routemaster in connection with Aberdeen's original acquisition of the Sal de los Angeles project in December 2015. On the sale of this 1.0% royalty, Routemaster received CAD$1,000,000 in cash and 7,140,000 Aberdeen common shares. At a deemed price of $0.14 per Aberdeen common share, the 7,140,000 Aberdeen common shares have an aggregate value of $1,000,000.
Following its sale of the 1.0% royalty, Routemaster retains a 1.0% net smelter returns royalty in respect of the Sal de los Angeles lithium project in Argentina. Lithium X Energy Corp. owns and is developing the Sal de los Angeles lithium project. Based on its public disclosure, Routemaster understands that Lithium X intends to publish a feasibility study on the project by the end of 2017.
About Routemaster Capital Inc.:
Routemaster Capital Inc. is a Canadian investment company that carries on business with the objective of enhancing shareholder value.
FORWARD-LOOKING STATEMENTS: This news release contains certain forward-looking statements, including statements regarding the value of the royalty, the timing of any feasibility study, and the plans of other companies. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Fred Leigh
President and Chief Executive Officer
+1 (416) 861-5933
