Larvotto Resources secures AU$3.4 million to advance Lithium Strategy

Larvotto Resources Limited (ASX: LRV) announced that it has signed a Royalty, Equity and Offtake (REO) Agreement with Canadian-based Lithium Royalty Corp. (LRC) and Waratah Capital’s Electrification and Decarbonization Fund AIE LP.

The binding agreement with Lithium Royalty Corp as part of AU$3.4 million, 3- tiered deal include:

• AU$700,000 cash payment by LRC for 1% gross revenue royalty over lithium and all other pegmatite materials.
• AU$2 million cornerstone equity investment and free attaching options.
• AU$700,000 cash payment by LRC as consideration for a 20% offtake investment.

Under the REO deal, LRC and Waratah Capital’s Electrification and Decarbonization Fund AIE LP will:

1. Acquire a newly created 1% gross revenue royalty payable concerning any lithium and other pegmatite linked minerals extracted or sold by Larvotto from its Eyre Project for AU$700,000.
2. Subscribe for 11,111,111 new ordinary shares at $0.18 per share, along with one free attaching option to raise AU$2 million.
3. Acquire a 20% life of mine offtake right for lithium in any form including ore, concentrates, sulphates, chemicals and other pegmatite minerals that are situated within or mined as well as other pegmatite linked minerals extracted or sold by Larvotto from its Eyre Project for AU$700,000

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