Megawatt Lithium and Battery Metals to acquire additional 20% interest in holder of silver–zinc projects

Mar. 31, 2022 8:38 AM ETMegaWatt Lithium and Battery Metals Corp. (WALRF)By: Shweta Agarwal, SA News Editor
  • Megawatt Lithium and Battery Metals (OTCPK:WALRF) signs share purchase deal with BC Co. to acquire additional 20% stakes in the company.
  • Currently, Megawatt Lithium and Battery Metals holds 60% of the BC Co, which will now be increased to 80% post this transaction.
  • BC Co owns a 100% interest (subject to a 2% NSR) in two prospective silver–zinc projects in Australia, being the Tyr Silver Project and the Century South Silver–Zinc Project.
  • Consideration: MegaWatt will acquire an additional 20% of BC Co in consideration for the issuance of 7.5M of WALRF shares priced at $0.13 each. That compares to stock's last close of $0.11.
  • Closing of the transaction is expected on April 15, 2022.

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