Binding agreement executed with Landore to acquire 50% of their pre-existing 3% net smelter royalty interest on the Root Project.
GT1 to subsequently extinguish the Royalty to further consolidate GT1 ownership.
Transaction represents a significant further step towards GT1 building the pre-eminent vertically integrated lithium business in Ontario and North America.
“The buyback of 50% of the Royalty Deed is another significant milestone for the company as GT1 rapidly advances the Root project and clearly indicates our team’s confidence in the potential of the Project. This is just another step forward for GT1 as we build our pre-eminent vertically integrated lithium business in Ontario and North America and will deliver greater value to shareholders over the long term.”
GT1 Chief Executive Officer