Mannheim/Leipzig/Perth. Tin International AG has successfully completed the sale of the Hegelshöhe and Sadisdorf licenses to its former joint venture partner Lithium Australia NL. The Upper Mining Authority of Saxony approved the transfer of the licenses from Tin International AG to Trilithium Erzgebirge GmbH, a wholly owned subsidiary of Lithium Australia NL.
Tin International AG receives EUR 0.5 million in cash and approx. 21.3 million LIT shares worth EUR 1.5 million from Lithium Australia NL as sales price. The LIT shares are subject to staggered sales restrictions of 6, 12 and 18 months. Together with the approx. 1.72 million LIT shares resulting from the joint venture agreement concluded in May 2017, Tin International AG now holds a total of approx. 23 million LIT shares, which corresponds to a 5 % stake in Lithium Australia NL.
Mannheim, 11 September 2018
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de.