Green Shift Commodities is pleased to announce that it has closed the previously announced acquisition (the “Acquisition”) of a 25% interest in Pampa Litio S.A. (“Pampa Litio”) from New Peak Metals Limited (ASX: NPM). Pampa Litio is a private Argentinean company exploring for hard rock spodumene bearing pegmatites in the Pampean Ranges of Central Argentina.
Terms of the Pampa Litio Acquisition
Pursuant to the Acquisition, GCOM has acquired a 25% interest in Pampa Litio for a consideration comprised of CAD$150,000 in cash and 535,714 common shares of GCOM (the “Common Shares”) issued at a deemed price of $0.14 per share, which is the 7-day volume weighted average trading price of the Common Shares traded on the TSX Venture Exchange on the day immediately prior to signing the definitive agreement in respect of the Acquisition.
The Common Shares issued in connection with the Acquisition are subject to a hold period expiring four months and one day from the date of issuance. There are no finders’ fees payable in connection with the Acquisition and New Peak is an arms-length party with respect to the Company.