Edison to buy alkali dispositions from Globex
Junior exploration company Edison Lithium has announced an agreement to acquire from Globex the rights to certain alkali dispositions in southern Saskatchewan.
The company will acquire Ceylon Lake, Freefight Lake, Cabri Lake North and Cabri Lake South from Globex for C$35-million in cash, 156 250 shares and a royalty of 2% of gross revenue from commercial production of mineral products.
Sodium sulphate has been reported to occur on all the assets. Sodium sulphate has many uses, including in papermaking, glass, textiles and heat storage. New applications within the battery industries are currently being developed.
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