Arctic Fox Ventures Inc. (CNSX:AFX) entered into a letter of intent to acquire Pontax North Lithium project in the James Bay region of Quebec from 1000383374 Ontario Inc. for CAD 0.89 million on February 27, 2023. The Consideration consists of up to 6,000,000 common shares of Arctic Fox Lithium Corp. and a cash payment of CAD 50,000 on execution of a definitive agreement. No finder's fees payable in connection with the deal. The acquisition will not constitute a change of business. Arctic Fox Lithium Corp. and 1000383374 Ontario Inc. will work towards executing a mutually agreeable definitive agreement within fifteen days.
Arctic Fox Ventures Inc. (CNSX:AFX) has entered into a Definitive Agreement to acquire Pontax North Lithium project in the James Bay region of Quebec from 1000383374 Ontario Inc. on March 21, 2023. It is currently anticipated that the closing date will occur on or before March 20, 2023.