Pure Energy Minerals Ltd (PEMIF)

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PURE ENERGY AMENDS TERMS OF CLAYTON VALLEY OPTION
Posted on April 26, 2021
Vancouver, BC – April 26, 2021 – Pure Energy Minerals (TSX Venture:PE) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) reports that it has entered into a Fourth Amending Agreement to the Clayton Valley Option Agreement (“the Option Agreement”) with GeoXplor Corp. (“GeoXplor”) and Clayton Valley Lithium (“CVL”). The Option Agreement covers mineral claims in Clayton Valley, Nevada that were the subject of the Company’s original agreement with GeoXplor and CVL in 2014, as well as those previously held by Lithium X Energy Corp (“Lithium X”), which were consolidated by the Company in the Option Agreement dated May 10, 2017.

Under the terms of the Fourth Amending Agreement (the “Amendment”) and subject to approval by the TSX Venture Exchange, the Company has agreed to issue USD$500,000 of its capital to GeoXplor in consideration for entering into the Amendment (the “Consideration Shares”). The number of Consideration Shares to be issued shall be calculated using the volume weighted average price (“VWAP“) of Pure Energy shares for the 20 trading days immediately preceding either the date of TSX Venture Exchange acceptance or May 1, 2021, as applicable, converted into US currency using the average Bank of Canada foreign exchange rate for such 20 day period.

https://pureenergyminerals.com/pure-energy-amends-terms-of-clayton-valley-option/