Aberdeen International Inc. intends to exercise its right to acquire a 1% net smelter return royalty in the Sal de los Angeles lithium project in Argentina from Routemaster Capital Inc.
Routemaster will receive C$1 million in cash and 7.14 million Aberdeen common shares, valued at C$1 million.
Aberdeen acquired the right from Routemaster, then Rodinia Lithium Inc., as part of its December 2015 acquisition of the Sal de los Angeles project.
Routemaster still has a 1% net smelter return royalty over Sal de los Angeles, according to the Aug. 10 release.
Lithium X Energy Corp. owns the Sal de los Angeles lithium project and intends to publish a feasibility study on the project by the end of this year.