Legacy Lithium Corp., an exploration-stage mining company based in Gargary, Alberta, Canada, has agreed to sell its Grand County lithium mining property, called the Green Energy Lithium Project, to Australia-based Anson Resources Limited. The sale will be made through Legacy Lithium’s subsidiary, Legacy Lithium Utah.
The sale price was reported as $1 million in cash and 15,060,981 Anson common stock shares, plus reimbursement of fees associated with the sale. The deal must be approved by Legacy shareholders and the Australian Securities Exchange.
The Green Energy Lithium Project is made up of 18 historic oil and gas wells and has 208 placer claims covering a total area of about 6.5 square miles. The project is located immediately adjacent to Anson’s Paradox Lithium Project.