Lithium Power International Ltd (fka LTHHF)

[TradingCharts]

Marquee Resources Limited ;?Marquee? or ?the Compan??? ;ASX?MQR? is pleased to announce the execution of a
Share Purchase Agreement with the Canadian based company, Vertex Lithium Corporation (Vertex), which will
acquire Marquee?s 30% interest in the lithium e?ploration properties on the Centenario Salar ;?Centenario?? in
Argentina. Lithium Power International Ltd (ASX:LPI) has also entered into the same agreement with Vertex to sell
its 70% interest in the Project.
The Centenario transaction with Vertex allows for the sale of 100% of Centenario, releasing MQR from any future
exploration spending requirements. It also removes the cost of holding the asset in a foreign jurisdiction in which
the Company hasstruggled to conduct any meaningful exploration on, due to the nature of the ownership structure
and Covid-19 restrictions.
The transaction provides MQR with the following consideration upon closing:
x Cash payment of USD$300,000; and
x CDN$250,000 payable in cash or shares (at MQR?s election) at the deemed issue price of Verte??s listing
transaction.
x In addition to the above payment terms if between closing of the transaction and 5 September 2021:
(a) A JORC-compliant resource of 250,000 tonnes of lithium carbonate equivalent with a minimum grade
of 200 mg/L Lithium is delineated across the Property, Vertex must pay $1,000,000 to MQR; and
(b) A JORC-compliant resource of 500,000 tonnes of lithium carbonate equivalent with a minimum grade
of 200 mg/L Lithium is delineated across the Property, Vertex must pay a further $1,000,000 to MQR.
Executive Chairman Comment:
Marquee E?ecuti|e Chairman? Mr Charles Thomas? commented? ?Given the difficulties that we have experienced
in properly exploring the Centenario Project since we acquired our interest a few years ago, this sale is a great result
for the Company. The sale proceeds will further bolster our balance sheet and allow us to continue our exploration
programmes on the suite of e?citing Projects that ?e currentl? hold?

https://company-announcements.afr.com/asx/mqr/3c2c6379-b834-11eb-b0dd-420e50e3cc89.pdf