Nortec sells stake in Kietyönmäki Lithium Project in Finland

1 minute read
09 April 2024

On April 9, 2024, Nortec Minerals Corp. (TSXV: NVT) ("Nortec") announced that it had sold its minority interest in the Kietyönmäki Lithium Project located in Finland, by selling its 16.4% interest in Litiumlöydös Oy, the entity that holds the rights to the Project, to United Lithium Corp. As consideration for this disposition, Nortec received $200,000 in cash in exchange for 490 common shares of Litiumlöydös Oy, representing its 16.4% minority interest.

Nortec is a mineral exploration company that holds 100% interests in two exploration stage critical mineral (zinc) projects, namely the Mattagami River Zinc and the Sturgeon Lake VMS properties, both located in Ontario, Canada.  Nortec also holds a 16.4% interest in the Tammela Gold Southwest Finland.
Brett Kagetsu and James Stewart of Gowling WLG advised Nortec with respect to this transaction.

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