United Lithium Increases Ownership of Kietyönmäki Lithium Project in Finland to 100%
VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- United Lithium Corp. (“United Lithium” or the “Company”) (CSE: ULTH ; OTCQX: ULTHF ; FWB: 0UL ) is pleased to announce that it has increased its ownership in the Kietyönmäki Lithium Project (“Kietyönmäki” or the “Project”) to 100% after acquiring Tammela Minerals Oy’s (“Tammela”) 16.4% minority interest in Litiumlöydös Oy (“Litiumlöydös”), the Finnish entity that holds the rights to the Project (the “Acquisition”).
- VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- United Lithium Corp. (“United Lithium” or the “Company”) (CSE: ULTH ; OTCQX: ULTHF ; FWB: 0UL ) is pleased to announce that it has increased its ownership in the Kietyönmäki Lithium Project (“Kietyönmäki” or the “Project”) to 100% after acquiring Tammela Minerals Oy’s (“Tammela”) 16.4% minority interest in Litiumlöydös Oy (“Litiumlöydös”), the Finnish entity that holds the rights to the Project (the “Acquisition”).
- Tammela is a wholly-owned subsidiary of Nortec Minerals Corp. (“Nortec”).
- As consideration for the Acquisition, the Company paid Nortec $200,000 in cash, in exchange for 490 common shares of Litiumlöydös from Tammela, representing the 16.4% minority interest.
- Following the completion of this initial transaction, the Company expanded the Project by 535 hectares (“ha”) (see news release September 14, 2022), bringing the total land package to 900 ha.