Lithium Australia Ltd (ASX:LIT, OTC:LMMFF) has inked a binding agreement to sell its remaining interest in the Lake Johnson Lithium Project to Charger Metals Ltd, bringing Charger's interest in the asset to 100%.
LIT will receive $2 million in return for the sale and retains first right of refusual for an offtake agreement on commercial terms for up to 30% of lithium products produced from the project.