Published: September 19, 2024 |

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Lithium Ionic Corp. has successfully completed a royalty agreement with Appian Capital Advisory.

Lithium Ionic Bandeira Corp. has executed a definitive royalty agreement with an affiliate of Appian, granting a 2.25 percent gross revenue royalty in exchange for upfront cash consideration of $20 million. Appian is an investment advisor to long-term, value-focused private capital funds that invest exclusively in mining and mining-related companies.

Lithium Ionic intends to use the proceeds from the royalty to advance the development and construction of its world-class Bandeira Lithium Project, located within the Lithium Valley in Minas Gerais State, Brazil.

The Lithium Valley is renowned for its significant concentration of lithium-bearing pegmatites and has become a globally significant lithium production center.

Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in Brazil. Its Itinga group of properties, which hosts its flagship Bandeira Lithium Project, as well as its Salinas group pf properties cover ~14,000 hectares in the northeastern part of Minas Gerais state, a mining-friendly jurisdiction that is quickly emerging as a world-class hard-rock lithium district. The Bandeira Project is situated in the same region as CBL’s Cachoeira lithium mine, which has produced lithium for +30 years, as well as Sigma Lithium Corp.’s Grota do Cirilo project, which hosts the largest hard-rock lithium deposit in the Americas.

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