Vatic Ventures Renegotiates Lithium Property Agreements in Brazil

Vatic Ventures ( (TSE:VCV) ) just unveiled an announcement.

Vatic Ventures Corp. has renegotiated the terms of its option agreement for the Solonópole South lithium property in Brazil, eliminating previous cash and share payment obligations. The new agreement includes a one-time payment of USD 2,500 and a perpetual 1% royalty on gross revenue from mineral sales, with an option to buy out the royalty for USD 1,000,000. Additionally, Vatic has entered into an agreement to acquire the Solonópole North property, subject to TSXV approval, which involves a similar payment structure and the acquisition of 1434593 B.C. Ltd. as a wholly-owned subsidiary. These strategic moves aim to strengthen Vatic’s position in the lithium market, potentially enhancing its operational capabilities and offering growth opportunities for stakeholders.

More about Vatic Ventures

Vatic Ventures Corp. operates in the mining industry, focusing on the acquisition and development of mineral properties. The company is primarily involved in exploring and developing hard rock lithium properties, which are essential for the production of lithium-ion batteries used in various applications, including electric vehicles and renewable energy storage.

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