Sulliden Mining Capital Inc. Announces Closing of Salt Cay Acquisition
Sulliden Mining Capital Inc. Announces Closing of Salt Cay Acquisition
TORONTO, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Sulliden Mining Capital Inc. (TSX: SMC) (“Sulliden” or the “Company”)
is pleased to announce it has closed the transaction to acquire all of the issued and outstanding common shares of Salt Cay
Horizons Ltd. (“Salt Cay”) from the shareholders of Salt Cay (see press release dated October 1, 2021).
Salt Cay, through its wholly owned subsidiary, holds just over 17,000 hectares of concessions in an emerging clean and
energy metals district in mining-friendly jurisdictions of Peru. The area is host to multiple uranium deposits that are large
scale, very near-to-surface and potentially heap-leachable - giving them what the Company believes to be a strong economic
case. The region also has several near-surface lithium deposits associated with uranium mineralization in the Yapamayo
Member formation as well as higher-grade lithium in the underlying Sapanuta Member formation. The concessions are
accessed by a series of paved roads from the City of Puno to the town of Macusani, which connects to the Interoceanic
Highway, a two-lane, paved highway that passes 14km north-east of the property.
As consideration for the acquisition of a 100% equity interest in Salt Cay, Sulliden issued 13 million common shares of the
Company to the shareholders of Salt Cay at a deemed price per share of $0.10, for an aggregate amount of $1.3 million. No
finder fees were paid in connection with, and no change of control of Sulliden resulted from, the transaction.
About Sulliden Mining Capital Inc.
Sulliden is a mining company focused on acquiring and advancing brownfield, development-stage and early production-stage
mining projects in the Americas.
Sulliden Mining Capital Inc.
On behalf of the Board
“Stan Bharti”
Interim Chief Executive Officer
For more information:
Ryan Ptolemy
Chief Financial Officer
Cautionary statement regarding forward-looking information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, without limitation the closing of the transaction to acquire Salt Cay. Forward -looking
information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed or implied by such
forward-looking information, including receipt of necessary approvals, risks inherent in the mining industry and the other risks
described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at
www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS NEWS
RELEASE.