M&A Deal Summary

Ultra Lithium Acquires International Lithium - Forgan Lake Property

On April 14, 2022, Ultra Lithium acquired metals/mining company International Lithium - Forgan Lake Property from International Lithium

Acquisition Highlights
  • This is Ultra Lithium’s 1st transaction in the Metals/Mining sector.
  • This is Ultra Lithium’s 1st transaction in Canada.
  • This is Ultra Lithium’s 1st transaction in Ontario.

M&A Deal Summary

Date 2022-04-14
Target International Lithium - Forgan Lake Property
Sector Metals/Mining
Buyer(s) Ultra Lithium
Sellers(s) International Lithium
Deal Type Divestiture

Target

International Lithium - Forgan Lake Property

Ontario, Canada
International Lithium's Forgan Lake Property is comprised of six spodumene-bearing pegmatites. Its historical exploration included 39 drill holes, aggregating 10,561 feet. The property's three historical channel cut samples returned an average 2.57% Li2O over a width of 21 feet (6.4 m) and two historical channel cut samples averaged 4.23% Li2O over 24.5 feet (7.46m)

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Buyer(S) 1

Buyer

Ultra Lithium

Vancouver, British Columbia, Canada

Category Company
Founded 2004
Sector Metals/Mining
DESCRIPTION

Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium, gold, and copper assets. The Company holds a brine lithium property in Argentina, and hard rock spodumene type lithium properties at the Georgia Lake/Forgan Lake area in northwestern Ontario, Canada, and a brine lithium property in the Big Smoky Valley, Nevada, USA. The Company also holds other gold and base metals properties in Argentina. Ultra Lithium was formed in 2004 and is based in Vancouver, British Columbia.


DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2022) 1 of 1

Seller(S) 1

SELLER

International Lithium

Vancouver, British Columbia, Canada

Category Company
Founded 2009
Sector Metals/Mining
DESCRIPTION

International Lithium is a lithium resource exploration and development company, royalty owner, and part-owner of a 4,410,000 tonne measured and indicated lithium resource in Argentina. The company's key mission in the new decade is to make money for our shareholders from lithium and battery metals while at the same time helping to create a greener, cleaner planet. International Lithium Corp. has both brine and hard rock (pegmatite) lithium projects in prolific areas of the world. Its Mariana Joint Venture with Ganfeng Lithium has 4,410,000 tonnes of measured and indicated Lithium Carbonate equivalent, making it one of the largest lithium brine exploration properties in the world. International Lithium was formed in 2009 and is based in Vancouver, British Columbia.


DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2022) 1 of 1