On April 9, 2024, Nortec Minerals Corp. (TSXV: NVT) ("Nortec") announced that it had sold its minority interest in the Kietyönmäki Lithium Project located in Finland, by selling its 16.4% interest in Litiumlöydös Oy, the entity that holds the rights to the Project, to United Lithium Corp. As consideration for this disposition, Nortec received $200,000 in cash in exchange for 490 common shares of Litiumlöydös Oy, representing its 16.4% minority interest.
Nortec is a mineral exploration company that holds 100%
interests in two exploration stage critical mineral (zinc)
projects, namely the Mattagami River Zinc and the Sturgeon Lake VMS
properties, both located in Ontario, Canada. Nortec also holds a
16.4% interest in the Tammela Gold Southwest Finland.
Brett Kagetsu and James Stewart of Gowling WLG advised Nortec with
respect to this transaction.