VANCOUVER, Aug. 3, 2018 /CNW/ - Bluebird Battery Metals Inc. (TSXV: BATT; US:BBBMF) (the "Company" or "Bluebird") is pleased to announce that, further to the letter of intent signed earlier this year (see news release dated June 12, 2018), it has entered into a definitive agreement (the "Agreement") with Peter Romeo Gianni (the "Vendor"") to acquire 100% of the rights, title and interest in the granted exploration licences of the Ashburton Cobalt Project ("Ashburton"), located 100 km southwest of Paraburdoo, Western Australia.
Definitive Agreement Details
Under the terms of the Agreement, the Company will purchase 100% of Ashburton by paying the Vendor CAD$25,000 (paid) and issuing to the Vendor upon TSX Venture Exchange acceptance, over a two year period, common shares valued at CAD$1,500,000.
This transaction is subject to the acceptance of the TSX Venture Exchange.
About Bluebird Battery Metals
BlueBird Battery Metals (TSXV: BATT; US: BBBMF) is a Canadian publicly listed company focused on the global exploration and development of strategic battery metals projects, primarily cobalt and nickel. BlueBird's goal is to pursue a business model that offers direct and long-term leverage to the price appreciation in cobalt, nickel and manganese, three principal materials in EV batteries. The Company plans to become a leader in the battery metals sector, as cobalt is currently in a global supply deficit, has a vulnerable supply chain, and is part of an emerging sector with extraordinary potential. BlueBird is currently advancing a portfolio of battery metals focused assets in in Western Australia, New South Wales, Australia, and in the Yukon, Canada, and reviewing new acquisition opportunities to add to the Company's project portfolio.
On Behalf of the Board of BlueBird Battery Metals Inc.
Peter A. Ball
Chairman and CEO
This news release may contain or refer to forward-looking information based on current expectations. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.
SOURCE Bluebird Battery Metals
For further information: 1-855-584-0160 or [email protected]