Brigadier Announces Receipt of TSX Conditional Approval for Acquisition of Quebec Lithium Interests
The Nemaska2 Property is Located in the James Bay Lithium Endowment Zone, adjacent to Li-FT Power, Nemaska Lithium and Critical Elements Lithium
VANCOUVER, BC / ACCESSWIRE / February 17, 2023 / Brigadier Gold Limited (the "Company") (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) is pleased to announce that it has received conditional approval from the TSX Venture Exchange ("TSXV") for its previously announced (December 19, 2022, January 25, 2023) acquisition of 1000196193 Ontario Ltd. (the "Transaction").
1000196193 Ontario Ltd. has entered into an option agreement to acquire the Nemaska2 Lithium Property, in James Bay, Quebec. The 3,040-hectare Nemaska2 Property is located adjacent to Li-Ft Power, Critical Elements Lithium and West of Nemaska Lithium (Whabouchi Project with 27.3Mt proven and probable reserves of lithium and 33-year mine life) in northern Québec, approximately 160 km east of James Bay. Québec is a highly attractive investment destination for lithium production due to its supportive resource development sector, access to skilled labour and its proximity to the emerging European and North American electric vehicle markets. Canada also has free trade agreements with the United States and the European Union.
The Nemaska2 Property hosts at least 20 pegmatite outcrops, most over 900-1000 meters squared and consistent with that of the Nemaska, Li-FT Power and Critical Elements lithium projects. The Quebec government carried out a large sampling program over the Nemaska2 Property and the geological report points to these white pegmatites containing spodumene. Further exploration of the property is recommended to identify additional pegmatite outcrops and spodumene occurrences.
Completion of the Transaction is subject to the satisfactory completion of the TSXV's conditions and receipt of final approval.
Mr. Garry Clark, P. Geo., a member of the Company's Board of Directors, a "Qualified Person" under NI 43-101, is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
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.
Forward-Looking Information Cautionary Statement
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements include those relating to completion of the Transaction as proposed or obtaining final TSXV approval for the Transaction, as there is no assurance the Transaction will be completed as planned or at all. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's ability to complete all payments and expenditures required under its mineral property option agreements; and other risks and uncertainties relating to the actual results of current exploration activities; the possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company's expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); environmental and regulatory requirements; availability of permits, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration industry, and those risks set out in the filings on SEDAR made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Brigadier Gold Limited
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