Great Lakes Graphite to Acquire Lochaber Deposit

Shield Gold Inc. (TSXV:SHG), operating as Great Lakes Graphite, announced yesterday that it has signed a definitive purchase agreement under which it will acquire Rock Tech Lithium Inc.’s (TSXV:RCK) Quebec-based Lochaber graphite deposit.

As quoted in the press release:

The purchase agreement between the companies provides for the Company to pay Rock Tech a total of $300,000 in cash and issue a total of 15 million common shares of the Company to Rock Tech or to whom it may direct. The acquisition is subject to and conditional upon TSXV and other regulatory approvals and satisfactory due diligence, including satisfaction with the results of metallurgical testing on samples that will be supplied by Rock Tech. On completion of the acquisition Rock Tech will have the right to appoint one nominee to the Board of Directors of the Company.

Click here to read the full Shield Gold Inc. (TSXV:SHG) press release.