On March 13, 2023, Lithium Ionic Corp. (“Lithium Ionic”) announced that it has acquired 100% of Neolit Minerals Participações Ltda. (“Neolit”), a Brazilian company which owns a 40% interest in the Salinas Project (the “Project”) and has the right, subject to certain exploration commitments, to acquire up to an 85% ownership interest in the Project.
The Salinas Project currently includes nine exploration tenements totaling 5,713 hectares, which are located approximately 100 kilometres north of Lithium Ionic’s 7,700-hectare Itinga Project, in the northern region of Minas Gerais State, Brazil.
Lithium Ionic Corp. is a Canadian-based lithium-focused mining company with properties covering 14,182 hectares located in the prolific Araçuaí province in Minas Gerais State, Brazil, which boasts excellent infrastructure, including highways, access to hydroelectrical grid power, water, and nearby commercial ports.
Miller Thomson advised Lithium Ionic Corp. with a team led by Mack Hosseinian (Corporate/M&A) and comprised of Joshua Davis (Corporate/M&A), Amanda Plastina (Financial Services) and Andrew Etcovitch (Tax).