NEWS
Prism to Sell Lithium Licenses for a Royalty & Cash Payment
Prism is pleased to announce that it completed a transaction to sell the Clear Hills Lithium licenses in return for a Net Profits Interest (NPI) Royalty of 5%. In light of the current dilutive investment climate and the need for considerable ongoing capital funding Prism’s Board feels this deal presents the best opportunity for long term shareholder return. Prism will also receive a $40,000 cash payment which will be spent on the much-awaited reductive chlorination testing on Prism’s polymetallic ore. All existing Prism shareholders will receive shares in a new stand-alone royalty company, Prism (CHP) Royalty Corp, with future royalties being distributed according to shareholding percentage.
Although not the original deal announced in Nov 2023 this deal maintains the key goal of conversion of debt thus improving Prism Diversified’s balance sheet - providing the main polymetallic division with its best opportunity to move forward.
All existing Prism Diversified Ltd (previously Ironstone Resources Ltd.) shareholders are requested to email john@prismdiversified.com with updated contact information (mailing address, physical address, email address, telephone contact number) in order that the new shares in Prism (CHP) Royalty Corp. may be issued.
Lincoln Ventures Ltd. Announces Update on Acquisition of PRISM’s Lithium Assets
PRISM is pleased that the deal with Lincoln Ventures Ltd is progressing as originally announced in Nov 2023. Please refer to the news release at:
PRISM Announces Proposed Sale of Lithium Assets to Lincoln Ventures
PRISM is pleased to announce that ongoing negotiations has resulted in a binding Letter of Intent with Lincoln Ventures Inc. (“LV”), a Vancouver-based company listed on the TSX.V. The news release can be found at this site…News Release 30th Nov 2024.
PRISM’s co-founder and Chairman, Carl Berdahl states that “this agreement [Letter of Intent to sell Lithium assets to Lincoln Ventures] is a great strategic move for PRISM. It will provide our shareholders with equity in a listed company with great growth potential and will also serve to improve PRISM’s investment opportunity for its stalled polymetallic assets. With the focus upon Critical Minerals, notably the federal government’s recently announced CMIF, our 550 million ton ore body containing Vanadium, Cobalt and high purity iron powders offers great potential.”
PRISM requests that shareholders reach out to its CEO, John Merritt (john@prismdiversified.com) with their contact details so they can receive updates in the coming months.
PRISM Increases its Mineral Tenure Holdings
PRISM successfully acquired 5,440 hectares of additional mineral permits proximal to its Worsley project area in November 2021. The permits are prospective for poly-metallics and potentially for lithium-bearing formation brines.
PRISM to Exhibit at PDAC 2019
Please join PRISM at the 2019 Prospectors and Developers Association of Canada (PDAC) conference in Toronto from March 3 through 6 at the Toronto Convention Centre.
PRISM will be exhibiting in the Government of Alberta booth #6211N as part of a delegation of companies in the mining space in the province. In addition, PRISM will be giving a short talk at the “Alberta Mines Event” to be held on Tuesday, March 5 from 3 to 5pm in Room 203D.
Representatives of PRISM will be on hand to share its exciting development story at the world’s largest mining conference. See you there!
PRISM Publishes its NI 43-101 Technical Report on Clear Hills-PRA Lithium Brines
PRISM is pleased to announce the availability of its NI 43-101 Technical Report entitled "Lithium Brines of the Clear Hills Property" on April 15, 2018. Authored by Edward Lyons, P.Geo. of Tekhne Research Inc. (Victoria, BC), the report reviews the regional and local geology, discusses the various models for lithium migration into the Devonian and earlier reservoir rocks, and makes recommendations for PRISM's further development work.