Lithium Ionic Amends Payment Terms for Brazil Claims

Lithium Ionic Corp (TSE:LTH) has released an update.

Lithium Ionic Corp has renegotiated the terms of its acquisition of the Vale and Borges lithium mining claims in Brazil, extending the payment schedules with options to acquire significant interests in these properties. The company now has until January 2025 to complete a major payment for the Vale Claims, while smaller payments are due in 2024 for both sets of claims. These amendments provide Lithium Ionic with increased financial flexibility and the option to terminate the agreements without further penalties.

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