Advantage Lithium Completes Assignment of Stella Marys Option to LSC Lithium Corporation
June 6, 2017
Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to announce that, further to its news release dated March 31, 2017, it has completed the assignment of its option over the 1,471 hectare Stella Marys Project, located in the Salinas Grandes Salar in Salta province, Argentina (the "MSR Option"), to LSC Lithium Corporation ("LSC"). The Company has received cash payments of approximately US$690,000 in reimbursement of all option payments and related expenses previously paid by the Company in connection with the MSR Option. In addition the Company also received 256,520 common shares of LSC and a royalty on the brine concentrate produced from the 85,000 hectares now held by LSC in the Salinas Grandes Salar, Argentine.
Said President & CEO Mr. David Sidoo “We are pleased to complete this transaction with LSC and Orocobre as our holding at Stella Marys was small in relation to the holdings of Orocobre and LSC. This transaction made sense to consolidate and as a result we obtained a royalty over the entire 85,000 hectare property package. Our current exploration program is focused on the Cauchari drill program.”
About Advantage Lithium Corp.
Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. The common shares of the Company are listed on the TSX Venture Exchange (TSX VENTURE: AAL), and the Company is also traded on the OTCQX Best Market in the U.S. (OTCQX: AVLIF). The Company has acquired a 100% interest in five projects in Argentina and up to a 75% interest in a sixth, called Cauchari. Cauchari is located just 20 km south Orocobre's flagship Olaroz Lithium Facility. The Company is also earning an interest from Nevada Sunrise Gold Corp., in a portfolio of five lithium brine projects in the Clayton and Lida Valley regions of Nevada, USA, including 70% in Clayton NE.
ADVANTAGE LITHIUM CORP.
David Sidoo, CEO, President and Director
Tel: 604.343.3760 | Fax: 604.683.1585
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the outcome of LSC’s exercise of the MSR Option, and the future operating or financial performance of Advantage Lithium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Advantage Lithium disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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