Madi Minerals Closes Amalgamation with Casey Jones Lithium
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DISSEMINATION IN THE UNITED STATES
MADI MINERALS LTD.
#1240 – 789 W. Pender Street
Vancouver, British Columbia
V6C 1H2
MADI MINERALS CLOSES AMALGAMATION WITH CASEY JONES LITHIUM
Vancouver, British Columbia, August 9, 2022: Madi Minerals Ltd. (the "Company" or "Madi")
(CSE: MADI) is pleased to announce that , further to its press release dated July 25, 2022 , the
Company has completed the previ ously announced transaction in which its wholly -owned
subsidiary amalgamated with Casey Jones Lithium Inc. (“ Casey”) to continue on as a wholly
owned subsidiary of Madi (the “ Transaction”). With the completion of the Transaction, Madi ,
through Casey, is the sole beneficial owner of the Morrison River Property, a mineral exploration
property located in the western portion of Ontario (the “Morrison River Property”).
The Morrison River Property is comprised of 174 unpatented single cell mining claims located in
the Morrison River Area in the Red Lake Mining Division of Ontario.
The Transaction was structured as a three -cornered amalgamation under the Business
Corporations Act (Ontario) (“OBCA”), pursuant to which the Company’s wholly-owned subsidiary
amalgamated with Casey and continue as one corporation under the OBCA (“Amalco”), with the
result that Amalco will be the wholly -owned subsidiary of Madi. The former Casey shareholders
received, in the aggregate, 12,000,000 shares in the capital of the Company (the “Madi Shares”),
representing approximately 45.5% of the issued and outstanding shares of Madi. As previously
announced, voting support agreements in favour of the Company were entered into by 75% of
former Casey shareholders who received Madi Shares under the Transaction, lasting for a period
of 4 months (with respect to 1/3 of the Madi Shares received) and 8 months (with respect to
another 1/3 of the Madi Shares received), expiring December 8, 2022 and February 8, 2023
respectively.
About Madi Minerals Ltd.
Madi Minerals Ltd. is engaged in the business of mineral exploration and the acquisition of mineral
property assets in Canada. Its objective is to locate and develop economic precious and base
metal properties of merit and to conduct its exploration on the Georgina Project. The Georgina
Property consists of 1 mineral claim covering an area of 2,069 ha approximately 20 km south of
the coastal town of Sayward; 105 km north of Campbell River on Vancouver Island, within the
Nanaimo Mining Division.
For more information, please refer to the Company's prospectus dated March 18, 2022, available
on SEDAR (www.sedar.com).
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On Behalf of the Board of Directors
Mike England
Chief Executive Officer and Director
Phone: 604-683-3995
Email: [email protected]
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this news release