Technology Minerals PLC (LSE:TM1) told investors it has now completed the sale of LRH Resources Limited to European Lithium Limited.
The transaction, valued at US$10 million, effectively sees the sale of the company’s Leinster Lithium Project licenses in Ireland, plus it includes the transfer of shares in Critical Metals Corp.
"We are pleased to have completed the sale of our Leinster Lithium Project licenses in Ireland,” Technology Minerals chief executive Alex Stanbury said in a statement.
“This agreement follows our strategy to advance early-stage projects up the value curve and attract partners or buyers of our assets to bring additional value to the company."
Meanwhile, Technology Minerals and its joint venture partner Global Battery Metals (TSX-V:GBML, OTCQB:REZZF) have agreed to terminate their joint venture for the Leinster project – with the agreement including a settlement fee of €377,327.29 covering outstanding exploration expenses, to be paid in Critical Metals Corp shares.