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BRIEF-Ultra Lithium Buys 13 Additional Gold Mining Licenses In Argentina

Published 2019-06-26, 08:58 a/m
© Reuters.  BRIEF-Ultra Lithium Buys 13 Additional Gold Mining Licenses In Argentina

June 26 (Reuters) - Ultra Lithium Inc ULI.V :

* ULTRA LITHIUM ACQUIRES 13 ADDITIONAL GOLD MINING LICENSES IN ARGENTINA

* CO SIGNED AGREEMENT WITH LOCAL VENDOR TO ACQUIRE THIRTEEN GOLD MINING LICENSES IN CHEPES AREA, LA RIOJA PROVINCE, ARGENTINA

* CHEPES LICENCES ARE LOCATED ON PAST PRODUCING HISTORICAL GOLD MINES, WHICH ARE CONSIDERED FAVOURABLE FOR EXPLORATION OF GOLD, COPPER

* A TOTAL OF THIRTEEN GOLD MINING LICENSES COVERING 508 HECTARES WERE ACQUIRED BY MAKING CASH PAYMENTS OF US $2,000 PER LICENSE

* COMPANY WILL PAY VENDOR 10% OF PROFIT FROM ANY FUTURE PRODUCTION FROM CHEPES LICENCES

* ULTRA LITHIUM-AGREED TO PAY VENDOR 5% OF PROFIT FROM FUTURE PRODUCTION FROM ULTRA I, ULTRA II, ULTRA III EXPLORATION LICENCES IN CHEPES LICENCES VICINITY

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