CDN MAVERICK SECURES SECOND PAYMENT FOR NEVASCA LITHIUM PROJECT, BOOSTS BALANCE SHEET
Vancouver, British Columbia – December 14, 2023 – CDN Maverick Capital Corp. (“Maverick” or the “Company”) (CSE: CDN; OTCPINK:AXVEF; Frankfurt: A117RU) is pleased to announce the receipt of the second installment payment from NOA Lithium Brines Inc. (NOAL:TSXV) (“NOAL”) as part of the ongoing option agreement for the Nevasca Lithium project located in Argentina. This second payment comprises $150,000 USD in cash and an additional $150,000 USD equivalent in NOAL common shares, totaling 636,094 shares, in accordance with the Nevasca Lithium Property purchase agreement dated May 8, 2023.
Simon Studer, the recently appointed President and COO of Maverick, shared his thoughts on the transaction, stating, “This deal, which boosts our financial health, truly reflects CDN’s goals since inception. It’s about making strategic choices aligned with our vision of building real, long-term value for our shareholders, and avoiding dilution. Our board holds us responsible for focusing on fiscal prudence, smart investments, and the right combination of exploration work that attracts valuable partnerships. NOAL’s local expertise and their proven track record of aggressively advancing exploration programs in Argentina perfectly align with our strategic goals of developing valuable assets and driving growth.”
Executive Chairman, Sandy MacDougall, states: “With 1.6 million common shares of Noram Lithium Corp. (TSX-V:NRM), 1.04 million common shares of NOAL Lithium Corp. (TSX-V: NOAL), and an additional $150,000 USD, we have significantly strengthened our balance sheet. In today’s unpredictable market, this is not just good news – it’s a critical safety net for the company. It allows us to prepare for the next phase of exploration at the Poncheville Lithium Prospect in James Bay, Quebec, in the coming months, and to pursue further acquisitions.”
ABOUT CDN MAVERICK CAPITAL CORP.
CDN Maverick Capital Corp. is a diversified exploration Company, with a core focus on lithium.
Electric Avenue Ontario: Northwind Lake Lithium Property
7,040 hectares in the “Electric Avenue”, an emerging lithium pegmatite exploration camp in the Red Lake area of Ontario, near to Frontier Lithium’s PAK Lithium Project.
Jame Bay Quebec: Poncheville Lithium Prospects
Lithium pegmatite prospect spanning nearly 40,000 hectares across the Poncheville and Chabinoche properties
Rainbow Canyon Nevada:
The Company also owns the Rainbow Canyon Gold Project in Nevada
Investments
1. Holds 1,044,385 shares of NOAL Lithium Brines Inc., a lithium company actively working in the Lithium Triangle and drilling its maiden resource in the area.
2. Holds over 1.6M shares in Noram Lithium Corp.; a lithium clay sands exploration and development Issuer located in Clayton Valley Nevada with a significant lithium resource known as the Zeus project. Noram is working towards a Prefeasibility Study.
As part of its ongoing efforts, CDN is actively expanding its critical minerals portfolio across the Americas, with a firm commitment to sustainable and ESG-friendly investing and exploration.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder, Chairman, and Director
sandyjmacdougall@gmail.com
C: 778.999.2159
Simon Studer
President, COO, and Director
simon.studer@queensu.ca
C: 236.833.3594
FOLLOW US:
Twitter: https://twitter.com/cdnmaverickcorp
Facebook: https://www.facebook.com/CDNMaverickCorp
LinkedIn: https://www.linkedin.com/company/cdnmaverick
Instagram: https://www.instagram.com/cdnmaverickcorp
YouTube: https://www.youtube.com/@cdnmaverickcorp
This news release contains projections and forward – looking information that involve various risks and uncertainties regarding future events. Such forward – looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management’s estimates or opinions change.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.