Nortec Minerals signs Letter of Intent to sell its ownership interest in the Kietyonmaki Lithium Project, Southwest Finland
Nortec Minerals signs Letter of Intent to sell its ownership interest in the Kietyonmaki Lithium Project, Southwest Finland
Vancouver, BC /May 4, 2021 – NORTEC MINERALS CORP. (the “Company” or “Nortec”) (TSXV: NVT) is pleased to announce the Company signed a Letter of Intent with United Lithium Corp., a CSE listed company (C: ULTH) to sell its interest in the Kietyönmäki Lithium Project located in the Tammela region, Southwest Finland. The Company’s interest is through the ownership of 16.4% of the shares in Litiumlöydös Oy, a Finnish incorporated company holding the title of Kietyönmäki Project. The other 83.6% is owned by Sunstone Metals Limited, an ASX listed company (ASX: STM).
The parties have agreed to an exclusivity period during which they will negotiate exclusively with each other with a view to settling a definitive agreement. There can be no assurances that any component of the Proposed Transaction will proceed, nor can there be any assurance as to the final definitive terms thereof.
This sale will support Nortec to maintain and cover its corporate expenditures and to concentrate its efforts to develop its Cottonwood Uranium – Vanadium project, Garfield County, Southern Utah and evaluate potential projects in Ecuador.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. Nortec holds 100% interest in the Cottonwood Uranium-Vanadium Property, Garfield County, Southern Utah, subject to a 1% Net Smelter Royalty (NSR). The Company has incurred over CDN$2.9 million in exploration, diamond drilling and support costs to earn a 51% interest in the Tomboko Gold Project, Northeast Guinea, West Africa. The Company also holds 17% interest in the Satulinmaki and Riukka gold prospects, Southwestern Finland and evaluating advanced properties in Ecuador. Detailed information on these projects are posted on the Company’s website www.nortecminerals.com.
On behalf of the Board of Directors,
“__Michael M Malana_”
CFO, Director
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release. This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
NORTEC MINERALS CORP. NORMIECU S.A. TAMMELA MINERALS Oy TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF S 864 RafaelleGianetti y las Begonias c/o KalliolawAsianajotoimisto Oy Suite 615, 800 West PenderStreet Quito Ecuador Eteläranta 12, Vancouver BC V6C 1V6, Canada FI-00130 Helsinki, Finland