Lithium Ionic Corp. secures $20 million royalty agreement for Bandeira Lithium Project in Brazil.

From GlobeNewswire: 2024-06-28 19:04:46

Lithium Ionic Corp. announces a definitive royalty agreement with Appian Capital Advisory LLP, granting a 2.25% gross revenue royalty in exchange for US$20,000,000 upfront cash consideration. The proceeds will be used to develop the Bandeira Lithium Project in Brazil, located in the renowned Lithium Valley. The agreement includes an option for the Company to buy back the royalty within five years for US$67,500,000. BMO Capital Markets is advising Lithium Ionic, and Bennett Jones LLP is the legal advisor. Appian’s CEO, Michael W. Scherb, expressed excitement about partnering with Lithium Ionic to support the Bandeira Project.



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