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MOU Highlights:

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budfoxfun Member Level  Thursday, 06/14/18 08:45:44 AM
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MOU Highlights:

Prosper One and Lithium Chile will enter into a joint venture agreement ("Joint Venture Agreement") whereby Prosper One may earn a 55% interest in Lithium Chile's Pintadas Norte project in Chile by incurring $3,000,000 of staged exploration expenditures on or before December 31, 2021 ; and
Prosper One to make a $1,000,000 equity investment in Lithium Chile at a minimum price of $1.00 per share; and
Lithium Chile will operate the exploration programs for the Pintadas Norte project and as operator, Lithium Chile will receive a management fee from Prosper One equal to 17.5% of the funds expended on the Pintadas Norte exploration programs; and
A $250,000 break fee will be payable by Prosper One to Lithium Chile should a definitive agreement not be signed.

$LTMCF Prosper One enters MOU to spend $3M to earn 55% of Lithium Chile's Pintadas Norte project https://finance.yahoo.com/news/prosper-one-enters-mou-spend-110000563.html

$LITH (Tsxv:lith)

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