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Core Lithium to acquire 2 tenements from Todd River

Core Lithium Corp. entered into tenement sale agreements with Todd River Resources Ltd. to acquire two new northern Australian lithium pegmatite projects — Soldiers Creek and Walabanba — for A$50,000 in shares per project subject to Core completing satisfactory due diligence.

Under the agreement, Core will issue a total of 2,635,584 shares at a price of approximately 38 Australian cents apiece.

Core believes there are strong synergies between the lithium potential of these new projects and their proximity to the company's existing lithium projects and the direct rail link to Darwin Port.

It said the acquisition will fit with the objective of making Darwin and Core's Finniss lithium project a central processing and global lithium transport hub for northern Australia.