China Securities Network News (Reporter Kang Xi) Tibet Tibet Everest Summit announc on the evening of January 4 that the company acquir 9% of the equity of Tibet Summit Resources HongKong Limit (register in Hong Kong, register capital of HK$10 million, Chinese name “Tibet Summit Resources (Hong Kong) Co., Ltd.”, abbreviat as “Everest Hong Kong”) held by LEADING RESOURCES GLOBAL LIMIT (Chinese name “Lingyuan Global Co., Ltd.”, abbreviat as “Lingyuan Global”) for US$7.14 million in cash.
As of now, the remaining financial support provid by Lingyuan
Global to Everest Hong Kong is US$18.6057 million Tibet Everest of which US$5 million telegram number list is from its own funds and US$13.6057 million is advanc by the company’s wholly-own subsidiary Tazhong Mining. Upon completion of this acquisition, the company will inherit the debts and claims relat to Lingyuan Global’s equity in Everest Hong Kong.
Everest Hong Kong is a joint-stock company
Of the company (holding 45% of the shares), which Tibet Everest actually controls and owns two lithium salt lake assets in Argentina. In March 2018, in order to complete Everest Hong Kong’s acquisition of Lithium X Energy Corp., an overseas (Canadian) list cayman islands lists company focusing on lithium resource exploration and development, Lead Source Global provid Everest Hong Kong with financial assistance of US$18.6057 million, and the relevant parties also sign legal documents such as the “Financial Assistance Agreement” and the “Investment Agreement”.
Regarding the purpose of acquiring 9% of the equity of Everest Hong Kong
The announcement stat that compar with the beginning of the acquisition, the expansion and development of the Argentine lithium salt lake project, especially the SDLA project, has gradually met the realistic conditions. Given that Tazhong doctors email list Mining has advanc a large amount of financial assistance to Everest Hong Kong on behalf of all shareholders of Everest Hong Kong (a total of US$195 million), in order to ensure that the overall risk of this part of external financial assistance funds is controllable, the company also ne s to obtain the controlling rights of Everest Hong Kong as soon as possible.