Vancouver, British Columbia--(Newsfile Corp. - March 14, 2023) - Lithium One Metals Inc. (TSXV: LONE) (FSE: H490) (the "Company" or "LONE") is pleased to announce that, further to its news release of February 8, 2023, it has closed its Ferrari Lithium property acquisition. The Ferrari Lithium property (the "Property") is located 35 km northeast of the Pontois-Corvette Lithium Projects owned by Patriot Battery Metals and 40 km northeast of LONE's Taycan Lithium property.
Under the terms of the Property option agreement (the "Agreement"), the Company must pay a total of $210,000 and the issue an aggregate of 6,000,000 common shares over a one year period in order to earn a 100% interest in the Property. The Company must issue an additional 3,500,000 common shares on achieving certain milestones during exploration. The Property is subject to a 3% net smelter returns royalty, 1% of which the Company can buy back for $1,000,000.
About Lithium One
Lithium One Metals is a Canadian exploration company specializing in the acquisition and development of high-potential lithium properties in Ontario and Quebec. Our team of experienced geologists and prospectors are at the forefront of the search for the next generation of lithium deposits.
On behalf of Lithium One Metals Inc.
Dominic Verdejo, Chief Executive Officer
For more information, please visit the Company's website at https://lithiumonemetals.com or contact:
Dominic Verdejo
Tel: +1-604-678-5308
Email: dom@rsdcapital.com
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.
WARNING: The Company relies upon litigation protection for "forward-looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
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