Li3 Energy, Inc. (OTCMKTS:LIEG) Files An 8-K Regulation FD DisclosureItem 7.01. Other Events
On July13, 2017, Bearing Lithium Corp. issued a press release announcing an updated Joint Ore Reserves Committee (“JORC”) resource estimate from the ongoing development work at the Maricunga lithium brine project located in Chile. The JORC report, dated July 12, 2017, was commissioned by Minera Salar Blanco S.A., a joint venture among Li3 Energy Inc., Minera Salar Blanco SpA, (“MSB”) and Lithium Power International Limited (“LPI”). Bearing has entered into a definitive agreement to acquire Li3 and its interest in the Maricunga Project. Li3 currently holds a 17.7% interest in the Maricunga Project, with MSB and LPI holding a 32.3% and 50% interest, respectively, to a joint venture arrangement. Under the terms of the joint venture LPI has agreed to fund exploration and development costs with both Li3 and MSB having a free carry until the completion of a definitive feasibility study.
The information in this Current Report on Form8-K under Item 7.01, including the accompanying press release, shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by reference to such filing.
Item 9.01 Financial Statements and Exhibits
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99.1 |
Press Release of Bearing Lithium Corp. dated July 13, 2017 |
Li3 Energy, Inc. ExhibitEX-99.1 2 li3_ex991.htm PRESS RELEASE li3_ex991.htmEXHIBIT 99.1 July 13,…To view the full exhibit click here
About Li3 Energy, Inc. (OTCMKTS:LIEG)
Li3 Energy, Inc. is an exploration company in the lithium and potassium mining sector, based in South America. The Company is focused on acquiring and developing a portfolio of lithium and potassium brine projects in the Americas. It is also focused on further exploring, developing and commercializing its approximately 49% interest in the Maricunga Project, located in the northeast section of the Salar de Maricunga in Region III of Atacama in northern Chile, as well as increasing its portfolio of projects. The Maricunga Project is a lithium and potassium exploration project consisting of over two adjacent properties covering an aggregate of approximately 1,888 hectares; over 60% interest in Sociedades Legales Mineras Litio 1 a 6 de la Sierra Hoyada de Maricunga, and approximately 100% interest in a group of exploitation mining concessions named Cocina 19 through 27 (the Cocina Mining Concessions). As of June 30, 2016, the Company had not generated revenues from operations.
