Hub City Lithium Corp. Closes an Asset Purchase and Sale Agreement with Grounded Lithium Corp (2024)

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06:00:00 2024-06-18 pm EDT
5-day change 1st Jan Change
0.035 CAD -12.50% Hub City Lithium Corp. Closes an Asset Purchase and Sale Agreement with Grounded Lithium Corp (1) -22.22% -56.25%
May. 22 Grounded Lithium Corp. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 24 Grounded Lithium Corp. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Hub City Lithium Corp. (HCL) has closed the sale of 33 sections (8,498 hectares) of undeveloped land in the Kindersley area to Grounded Lithium Corp. (GLC).

As consideration for the sale, HCL received $175,000 in cash and 779,557 GLC common shares (Shares) based on the 10- day volume-weighted average trading price of the Shares on the TSXV Venture Exchange as of the closing date. The Shares are subject to a contractual escrow, to be released in equal 1/3 tranches on the 4, 8, and 12-month anniversaries from closing.

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Grounded Lithium Closes Acquisition of 8,498 Hectares of Land from Hub City Lithium MT
Hub City Lithium Corp. Closes an Asset Purchase and Sale Agreement with Grounded Lithium Corp CI
Grounded Lithium Corp. completed the acquisition of additional 33 sections (8,498 hectares) of highly prospective lands in core Kindersley area from Hub City Lithium Corp. for CAD 0.38 million. CI

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Hub City Lithium Corp. Closes an Asset Purchase and Sale Agreement with Grounded Lithium Corp (2)

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Company Profile

Grounded Lithium Corp. is a Canada-based lithium brine exploration and development company. The Company is focused on supplying lithium to the developing electricity-powered economy. The Company’s wholly owned and operated Kindersley Lithium Project (KLP) is located within the province of Saskatchewan in Canada. The Project encompasses approximately 77,478 hectares. The Company also owns approximately 33 sections (8,498 hectares) of undeveloped land in the Kindersley area. The Company controls approximately 1.0 million metric tons of measured and indicated lithium carbonate equivalent mineral resource and approximately 3.2 million metric tons of Inferred lithium carbonate equivalent resource over its focused land holdings in Southwest Saskatchewan.

Sector

Calendar

2024-08-25 - Q2 2024 Earnings Release (Projected)

More about the company

Income Statement Evolution

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Analysts' Consensus

Sell

Hub City Lithium Corp. Closes an Asset Purchase and Sale Agreement with Grounded Lithium Corp (3)

Buy

Mean consensus

BUY

Number of Analysts

1

Last Close Price

0.04CAD

Average target price

0.35CAD

Spread / Average Target

+775.00%

Consensus

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Hub City Lithium Corp. Closes an Asset Purchase and Sale Agreement with Grounded Lithium Corp (14)

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Hub City Lithium Corp. Closes an Asset Purchase and Sale Agreement with Grounded Lithium Corp (2024)
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