Alba Receives Approval for Transaction with Noram Ventures Inc.
Vancouver, B.C, November 21, 2018 - Alba Minerals Ltd. (TSX-V: AA; US:AXVEF; Frankfurt: A117RU) (“Alba” or the “Company”) is pleased to announce that it received TSX Venture Exchange Approval on November 19, 2018 to sell the 25% interest (the “Interest”) it had earned in certain mineral claims located in Clayton Valley, Nevada to Noram Ventures Inc. (“Noram”) and its wholly-owned subsidiary Green Energy Inc.
In consideration for the Interest, Noram will issue to Alba the following
- 3,800,000 common shares;
- A cash payment of $400,00; and
- In the event Noram undergoes a financing pursuant to which it issues from treasury, common shares or other securities convertible or exercisable into common shares (a “Financing”), Alba shall have a right of first refusal to participate in the Financing and to acquire up to the number of shares and/or securities being issued under the Financing, necessary in order for Alba to be able to maintain the same percentage ownership of shares Noram as it would have immediately prior to the completion of the financing.
No finders’ fees or commissions are payable in connection with this transaction. All shares issued in connection with this transaction will be subject to a statutory hold period of four months plus a day from the date of issuance.
About Alba Minerals Ltd.
Alba Minerals Ltd. is a Vancouver-based junior resource company with projects in North and South America. Alba is focused on the development of the following mineral properties:
The Quiron II Lithium Property consists of 2,421 hectares of prospective lithium exploration in the Pocitos Salar, Province of Salta, Argentina. The Property is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 km from Pure Energy Minerals Ltd.’s Pocitos prospects.
The Chascha Norte property consists of 2,843 hectares of prospective lithium exploration in the Southeastern part of the Salar de Arizaro, Salta, Argentina in closest vicinity to Argentina Lithium & Energy Corporation’s and Lithium X’s Arizaro lithium brine projects.
The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the Washoe County Nevada.
The Muddy Mountain property consists of 450.41 hectares of prospective lithium exploration in Muddy Mountains of Clark County, Nevada.
Please visit our web site for further information:www.albamineralsltd.com
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman & Director
Direct: (778) 999-2159
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management’s estimates or opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.