- Idaho Champion (OTCQB:GLDRF) on Thursday signed agreement with Quebec Precious Metals Corporation to buy Blanche and Charles lithium pegmatite projects in Quebec.
- Idaho Champion will acquire 100% of the projects from QPM in exchange for for $100,000 cash and 12M GLDRF common shares, of which 50% will be subject to escrow for 18 months.
- The current agreement replaces MOU entered on Sept 19.
- QPM will retain a 2% net smelter return royalty on the claims constituting the projects. The company will have the option to repurchase 1% of the NSR from QPM for $1M.