{"id":476265,"date":"2021-04-14T09:04:19","date_gmt":"2021-04-14T13:04:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/"},"modified":"2021-04-14T09:04:19","modified_gmt":"2021-04-14T13:04:19","slug":"megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/","title":{"rendered":"Megawatt Completes Acquisition of Australian Nickel-Cobalt-Scandium-Rare Earth Projects"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">VANCOUVER, BC<\/span>, <span class=\"xn-chron\">April 14, 2021<\/span> \/PRNewswire\/ &#8211;\u00a0<b>Megawatt Lithium and Battery Metals Corp<\/b>. (CSE:MEGA) (FSE: WR20) (OTC PINK: WALRF) (the &#8220;<b>Company<\/b>&#8221; or &#8220;<b>Megawatt<\/b>&#8220;) is pleased to announce that further to its press release of <span class=\"xn-chron\">March 31, 2021<\/span>, it has completed the acquisition of all of the issued and outstanding securities of <span class=\"xn-money\">1260945 B<\/span>.C. Ltd. (&#8220;<b>TargetCo<\/b>&#8220;) pursuant to the terms of a share exchange agreement dated <span class=\"xn-chron\">March 30, 2021<\/span> (the &#8220;<b>Agreement<\/b>&#8220;)\u00a0among the Company, Targetco and the Targetco shareholders (the &#8220;<b>Transaction<\/b>&#8220;) and indirectly acquired a 100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory (&#8220;<b>NT<\/b>&#8220;) and <span class=\"xn-location\">New South Wales<\/span> (&#8220;<b>NSW<\/b>&#8220;) <span class=\"xn-location\">Australia<\/span> as described below.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1487330\/MegaWatt_Lithium_and_Battery_Metals_Corp__Megawatt_Completes_Acq.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1487330\/MegaWatt_Lithium_and_Battery_Metals_Corp__Megawatt_Completes_Acq.jpg\" title=\"MegaWatt Lithium and Battery Metals Logo (CNW Group\/MegaWatt Lithium and Battery Metals Corp.)\" alt=\"MegaWatt Lithium and Battery Metals Logo (CNW Group\/MegaWatt Lithium and Battery Metals Corp.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Rare Earth Elements (NT) \u2013 Arctic Fox and Isbjorn<\/b>\n      <\/p>\n<p>Located in NT, both properties have assayed surface sample readings that form the basis for further exploration and are located in a region with supportive mining infrastructure. \u00a0Arctic Fox is contiguous with the Nolans Bore REE project, for which Project commissioning is slated for mid 2022. The Isbjorn asset is contiguous to the advanced Charley Creek REE project. <\/p>\n<p>\n        <b>Nickel-cobalt-scandium-HPA (NSW) \u2013 Chinook, Kodiak &amp; Caribou<\/b>\n      <\/p>\n<p>The three nickel-cobalt-scandium-HPA properties \u2013 Chinook, Kodiak and Caribou \u2013 are located in central NSW in a highly prospective region.\u00a0 The region is home to both Alpha HPA&#8217;s (ASE:A4N) Collerina nickel-cobalt-scandium-HPA asset and Scandium International&#8217;s (TSE: SCY) Nyngan deposit.\u00a0 Both Collerina and Nyngan support JORC Complaint Mineral Resources. <\/p>\n<p>\n        <b>The Transaction <\/b>\n      <\/p>\n<p>Pursuant to the terms of the Agreement, Megawatt acquired 100% of the issued and outstanding securities of TargetCo in consideration for the issuance of 11,400,000 common shares of the Company (the &#8220;<b>Payment Shares<\/b>&#8220;) at a deemed price of <span class=\"xn-money\">$0.44<\/span> per Payment Share. The Payment Shares are not subject to any hold periods under applicable securities laws.<\/p>\n<p>In addition, the Company issued 75,000 common shares to arm&#8217;s length third party finders in connection with the Transaction (the &#8220;<b>Finders&#8217; Shares<\/b>&#8220;) at a deemed price of <span class=\"xn-money\">$0.44<\/span> per Finders&#8217; Share. The Finders&#8217; Shares are subject to a four month and one day hold period under applicable securities laws which expires on <span class=\"xn-chron\">August 10, 2021<\/span>.<\/p>\n<p>The Transaction is an arms-length transaction and no change in management or the board of directors of Megawatt is being contemplated at this time.<\/p>\n<p>\n        <b>About MegaWatt Lithium and Battery Metals Corp. <\/b>\n      <\/p>\n<p>MegaWatt is a <span class=\"xn-location\">British Columbia<\/span> based company involved in the acquisition and exploration of mineral properties in <span class=\"xn-location\">Canada<\/span>. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of <span class=\"xn-location\">British Columbia, Canada<\/span>. <\/p>\n<p>Additionally, the Company has acquired a 60% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in two prospective silver-zinc projects in <span class=\"xn-location\">Australia<\/span>, being the Tyr Silver Project and the Century South Silver-Zinc Project (see press release dated <span class=\"xn-chron\">August 13, 2020<\/span>) and a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of <span class=\"xn-location\">Matagami<\/span> in the Province of <span class=\"xn-location\">Quebec<\/span>, covering 2,126 hectares (see press release dated <span class=\"xn-chron\">February 3, 2021<\/span>).<\/p>\n<p>Investors can learn more about the Company and team at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3128379-1&amp;h=764699361&amp;u=https%3A%2F%2Fmegawattmetals.com%2F&amp;a=https%3A%2F%2Fmegawattmetals.com\" rel=\"nofollow noopener\">https:\/\/megawattmetals.com<\/a>.<\/p>\n<p>\n        <b>The CSE does not accept responsibility for the adequacy or accuracy of this release. <\/b>\n      <\/p>\n<p>This press release includes &#8220;forward-looking information&#8221; that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company&#8217;s common shares on the Exchange and the Company&#8217;s use of proceeds and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management&#8217;s best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA41914&amp;sd=2021-04-14\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects-301268767.html\">http:\/\/www.prnewswire.com\/news-releases\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects-301268767.html<\/a><\/p>\n<p>SOURCE  MegaWatt Lithium and Battery Metals Corp.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=VA41914&amp;Transmission_Id=202104140900PR_NEWS_USPR_____VA41914&amp;DateId=20210414\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire VANCOUVER, BC, April 14, 2021 \/PRNewswire\/ &#8211;\u00a0Megawatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTC PINK: WALRF) (the &#8220;Company&#8221; or &#8220;Megawatt&#8220;) is pleased to announce that further to its press release of March 31, 2021, it has completed the acquisition of all of the issued and outstanding securities of 1260945 B.C. Ltd. (&#8220;TargetCo&#8220;) pursuant to the terms of a share exchange agreement dated March 30, 2021 (the &#8220;Agreement&#8220;)\u00a0among the Company, Targetco and the Targetco shareholders (the &#8220;Transaction&#8220;) and indirectly acquired a 100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory (&#8220;NT&#8220;) and New South Wales (&#8220;NSW&#8220;) Australia as described below. Rare Earth Elements (NT) \u2013 Arctic Fox and Isbjorn Located &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Megawatt Completes Acquisition of Australian Nickel-Cobalt-Scandium-Rare Earth Projects&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-476265","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Megawatt Completes Acquisition of Australian Nickel-Cobalt-Scandium-Rare Earth Projects - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Megawatt Completes Acquisition of Australian Nickel-Cobalt-Scandium-Rare Earth Projects - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire VANCOUVER, BC, April 14, 2021 \/PRNewswire\/ &#8211;\u00a0Megawatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTC PINK: WALRF) (the &#8220;Company&#8221; or &#8220;Megawatt&#8220;) is pleased to announce that further to its press release of March 31, 2021, it has completed the acquisition of all of the issued and outstanding securities of 1260945 B.C. Ltd. (&#8220;TargetCo&#8220;) pursuant to the terms of a share exchange agreement dated March 30, 2021 (the &#8220;Agreement&#8220;)\u00a0among the Company, Targetco and the Targetco shareholders (the &#8220;Transaction&#8220;) and indirectly acquired a 100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory (&#8220;NT&#8220;) and New South Wales (&#8220;NSW&#8220;) Australia as described below. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/","og_locale":"en_US","og_type":"article","og_title":"Megawatt Completes Acquisition of Australian Nickel-Cobalt-Scandium-Rare Earth Projects - Market Newsdesk","og_description":"PR Newswire VANCOUVER, BC, April 14, 2021 \/PRNewswire\/ &#8211;\u00a0Megawatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTC PINK: WALRF) (the &#8220;Company&#8221; or &#8220;Megawatt&#8220;) is pleased to announce that further to its press release of March 31, 2021, it has completed the acquisition of all of the issued and outstanding securities of 1260945 B.C. Ltd. (&#8220;TargetCo&#8220;) pursuant to the terms of a share exchange agreement dated March 30, 2021 (the &#8220;Agreement&#8220;)\u00a0among the Company, Targetco and the Targetco shareholders (the &#8220;Transaction&#8220;) and indirectly acquired a 100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory (&#8220;NT&#8220;) and New South Wales (&#8220;NSW&#8220;) Australia as described below. Rare Earth Elements (NT) \u2013 Arctic Fox and Isbjorn Located &hellip; Continue reading \"Megawatt Completes Acquisition of Australian Nickel-Cobalt-Scandium-Rare Earth Projects\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-14T13:04:19+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1487330\/MegaWatt_Lithium_and_Battery_Metals_Corp__Megawatt_Completes_Acq.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Megawatt Completes Acquisition of Australian Nickel-Cobalt-Scandium-Rare Earth Projects","datePublished":"2021-04-14T13:04:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/"},"wordCount":691,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1487330\/MegaWatt_Lithium_and_Battery_Metals_Corp__Megawatt_Completes_Acq.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-completes-acquisition-of-australian-nickel-cobalt-scandium-rare-earth-projects\/","name":"Megawatt Completes Acquisition of Australian Nickel-Cobalt-Scandium-Rare Earth Projects - 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