CDN Maverick to Option Nevasca Property to NOAL and Equity Partnership
CSE: CDN
OTCQB: AXVEF
Frankfurt: 338B
FOR IMMEDIATE RELEASE
CDN MAVERICK TO OPTION
NEVASCA PROPERTY TO NOAL AND EQUITY PARTNERSHIP
Vancouver, British Columbia – May 8, 2023 – CDN Maverick Capital Corp. (“Maverick” or the
“Company”) (CSE: CDN; OTCPINK:AXVEF; Frankfurt: A117RU) is pleased to announce tht the
Company has entered into a mining properties purchase agreement (the “Purchase Agreement”),
dated effective May 8, 2023, with a subsidiary of NOA Lithium Brines Inc. (NOAL:TSXV) (“NOAL“)
pursuant to which NOAL has been granted the right to acquire the Nevasca Property.
The Nevasca Property, located in the Arizaro Salar in the Province of Salta, Argentina, spans over
2,842 hectares and boasts promising geology for lithium exploration and mining in one of the largest
underexplored Salars of the Lithium Triangle. The option of the Nevasca Property to NOAL
represents a strategic move for Maverick, as it allows the C ompany to maintain exposure to the
asset through an equity position in NOAL. In addition, NOAL boasts a large and diversified portfolio
of additional projects , encompassing nearl y 100,000 hectares of lithium exploration projects
including the Rio Grande Salar and the Arizaro Salar with proven lithium ocurrences and lithium
resources within Argentina's most prolific lithium-producing region.
The terms of the Purchase Agreement allow NOAL to acquire the Property in consideration for the
following cash payments and share issuances (cash payments and share issuances are in USD):
• $50,000 in cash upon signing
• 40 days ("Effective Date") after due diligence period: $150,000 of NOAL shares
• 6 months from Effective Date: $150,000 in cash and issuance of $150,000 of NOAL shares
• 12 months from Effective Date: $250,000 in cash and issuance of $250,000 of NOAL shares
• 18 months from Effective Date: $500,000 in cash and issuance of $500,000 of NOAL shares
All share payments owing to Maverick pursuant to the Purchase Agreement will be calculated
based upon most recent closing price of NOAL shares on the TSX Venture Exchange immediately
prior to issuance, subject to a minimum issue price of $0.30 per share.
A 3% NSR on the Property will be retained by Maverick that can be purchased by NOAL for an
additional $1,000,000 in cash or shares , at Maverick’s election, within 24 months from Effective
Date
Within 18 (eighteen) months as from the Effective Date, NOAL assumes the commitment to perform
exploration works and investments in the amount of US$500,000 (Five Hundred Thousand United
States Dollars).
The Purchase Agreement will enable both companies to leverage each other's expertise and
resources to accelerate exploration efforts and unlock the potential value of their combined assets.
CDN will benefit from NOAL's ongoing exploration activities at the Rio Grande Project and the
potential for resource expansion across NOAL's extensive landholdings in the Arizaro Salar through
its equity position in NOAL.
This transaction will strengthen and diversify the Company's portfolio and enhance the Company's
current cash position. Maverick intends to continue to expand its exposure to lithium exploration by
diversifying its asset base and capturing potential upside across multiple projects.
Adam Cegielski, CEO of Maverick, commented, "This transaction is a testament to our commitment
to creating shareholder value through innovative growth strategies . By partnering with NOAL, we
are maximizing the potential of our assets , gaining exposure to their exploration package and
further positioning our Company for long-term success. This transaction exemplifies CDN's mission
to aggressively enhance shareholder value by identifying and developing a diverse strong portfolio
of investments and projects within the critical minerals exploration sector."
The Company is at ar ms-length from NOAL. No finders’ fees or commissions are payable in
connection with the entering into of the Purchase Agreement. Completion of the transaction
contemplated by the Purchase Agreement remains subject to the receipt of any required regulatory
approvals.
About CDN Maverick Capital Corp:
CDN Maverick Capital Corp. is a Vancouver -based diversified natural resource investment and
junior exploration company whose focus is the development of mineral projects. The Company
owns a 100% interest in the Nevasca Lithium Project located in the Arizaro Salar in Salta, Argentina,
and has more than 1.6M shares of Noram Lithium Corp. (TSX -V: NRM) which is developing the
Zeus Lithium Deposit in Clayton Valley Nevada, adjacent to Albemarle's Silver Peak Lithium mine
and production facility. CDN Maverick also has a 100% interest in the Rainbow Canyon Gold Project
in the Olinghouse Mining District, in the Washoe County Nevada. The company is actively seeking
to expand its ESG friendly exploration, development, and investment asset portfolio in Canada and
other prime investing and mining jurisdictions in North and South America.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder, Chairman and Director
C: 778.999.2159
Adam Cegielski
CEO
C: 905.510.8890
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future
events. Such forward - looking information can include without limitation statements based on current expectations involving a number
of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could
cause the Company’s actual results to differ materially from those expressed or implied by such forward look ing statements; the
uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual
results and the Company's plans and objectives to differ materially from those expressed in the f orward-looking information. Actual
results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-
looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their
entirety by this notice. The Company assumes no obligation to update forward- looking information should circumstance or
management’s estimates or opinions change.
Neither the Canadian Securities Exchange (“ CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the
CSE) accepts responsibility for the adequacy or accuracy of this release.