VANCOUVER, BC / ACCESSWIRE / June 4, 2020 / INFINITE ORE CORP. ("ILI" or the "Company") (TSXV:ILI)(OTCQB:ARXRF) announces that, pursuant to an amending agreement (the "Amending Agreement") with Jourdan Resources Inc. (see PR dated May 9, 2017), it has negotiated the 100% sale of the Preissac-Lacorne lithium project to Jourdan.
In consideration for the increased percentage in the Portfolio, the parties agreed to adjust the consideration payable by Jourdan to Infinite to by the issuance to Infinite of an additional 8,100,000 common shares of the Corporation (the "Consideration Shares").
The Consideration Shares issuable in connection with the Option will be subject to the approval of the TSX Venture Exchange ("TSXV") and will be subject to a statutory four month and one day hold period.
About Infinite Ore Corp.
Infinite Ore Corp. is a junior mining exploration company focused on seeking and acquiring world-class mineral projects globally. Our current focus is on properties with the potential for VMS mineralization in the Confederation Mineral Belt near Red Lake, Ontario, and the Jackpot Lithium property located near Nipigon, Ontario. Infinite also continues to evaluate suitable prospects that fit the mandate of the company. Please visit our website located at www.infiniteore.com.
ON BEHALF OF THE BOARD
Mike England, President and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Toll Free: 1-888-945-4770
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.
SOURCE: Infinite Lithium Corp.