Vancouver, British Columbia–(Newsfile Corp. – April 1, 2022) – Infinity Stone Ventures Corp. (CSE: GEMS) (OTC Pink: TLOOF) (FSE: B2I0) (formerly, Contakt World Technologies Corp.) (the “Company“) is pleased to announce that it has entered into a mineral property purchase agreement (the “Agreement“), pursuant to which it will acquire a 100% interest in and to 72 mining claims located on ground adjacent to the Frontier Lithium, PAK Lithium project in the Red Lake Mining District, Ontario. The claims to be acquired are known as the PAK South Project and PAK Southeast Project (together, the “Projects“). In consideration for the Projects, the Company will pay $30,000 in cash and issue 2,000,000 class A subordinate voting shares (“Shares“) of the Company to the arms-length vendors within five (5) business days of the date of the Agreement.
As the deal has just been signed, a Qualified Person (as such term is defined under NI 43-101) is reviewing information respecting the Projects.
“With Frontier Lithium announcing on February 16, 2022 405 meters of 1.5% Li2O, combined with upcoming increases in lithium battery production capacity in North America that will require increased supply of lithium, the opportunity presented by the PAK South and PAK Southeast acquisitions is timely”, said Infinity Stone CEO, Zayn Kalyan. “We are excited to add our first energy metal project to the Company’s diversifying portfolio, alongside our SaaS solutions Healthcheck and Contakt,” added Mr. Kalyan.
The Company is also pleased to announce that it has granted incentive stock options (the “Options“) to purchase an aggregate of 275,000 Shares to certain directors and consultants of the Company pursuant to the Company’s equity incentive plan (the “Option Grant“). Each Option confers upon its holder the right to purchase one Share at a price of $0.25 per Share for a period of two (2) years from the date of grant and the Options will vest as follows: (i) 25% on the date of grant; (ii) 25% three (3) months from grant; (iii) 25% six (6) months from grant; and (iv) 25% nine (9) months from grant.
Of the Options granted, 150,000 were granted to directors of the Company. The Company relied on sections 5.5(b) and 5.7(1)(a) of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as the exemption from the formal valuation and minority approval requirements of MI 61-101, respectively, in respect of the Options grant to the directors of the Company, as no securities of the Company are listed on a specified market as defined in MI 61-101 and neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Options granted to the directors of the Company exceeded 25% of the Company’s market capitalization.
About Infinity Stone Ventures
Infinity Stone Ventures Corp.’s mission is to deliver solutions across industries. The Company’s primary business units are Contakt World and HealthCheck (Stratum Health Technologies LLC) and the Company is actively looking to acquire portfolio assets in other sectors such as SaaS solutions and energy metals.
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Infinity Stone Ventures Corp.
CEO and Director
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Forward-Looking Statements Disclaimer
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: consummation of the Agreement and the acquisition contemplated thereunder; and the Project acquisition being timely, given increases in demand for lithium and Frontier Lithium’s recent exploration results. Although forward-looking statements contained in this press release are based upon what management of Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of the Company, including those described in the Company’s public filings available on www.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
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