SPOD LITHIUM CORP. (CSE: SPOD; OTCQB: SPODF), (the "Company" or "SPOD") announces that, further to its news release dated December 23, 2024, the Company corrects the compensation made to Haywood Securities Inc. ("Haywood Securities") pursuant to a second tranche closing of a private placement offering (the "Offering").
In connection with the Offering, the Company paid a cash commission of $5,950 to Haywood Securities and issued 119,000 finder's warrants as part of their finder's fee compensation in connection with subscriptions received from subscribers introduced to the Offering by Haywood Securities. However, after closing of the Offering, the compensation has been reduced to $4,200 and 84,000 finder's warrants.
Termination Notices
Moreover, the Company provided a written termination notice to Gia Resources Inc. ("GIA"), to terminate the option agreement, as amended, pursuant to which the Company has granted GIA an option to earn a 100% interest in the Company's Golden Moon property in the Province of Quebec, consisting of 10 mineral claims, subject to the underlying NSRs on the property for failure to make the requisite exploration expenditures and common shares issuance. "The Golden Moon property shows promising prospects. The property is strategically located in the mineral-rich Chibougamau region in the Province of Quebec. Samples analyzed from the 2016 prospection program contained gold, silver and copper showings," commented Mathieu Couillard, SPOD's CEO.
The Company provided a second written termination notice to terminate its purchase option agreement to acquire a 100% interest in the Byron Pegmatite property, consisting of 46 unpatented mining claims located in the Province of Ontario.
Update of MegaLi & LG4 Properties
All samples collected during our fall 2024 drilling program on MegaLi and LG4 properties were sent to the lab in late December 2024. The results are expected to be received February 2025.