Further to the announcement of 30 September 2020, Bacanora Lithium plc (AIM: BCN), a lithium exploration and development company, is pleased to announce that it has now entered into the conditional sale and purchase agreement (“SPA”) to sell its 50% shareholding in Deutsche Lithium GmbH (“DL” or “Deutsche Lithium”) to Erris Resources plc (“Erris”), in exchange for new shares in Erris and a net profits royalty (the “Proposed Transaction”). The SPA is subject, inter alia, to the approval by Erris shareholders of the resolutions to be proposed at a general meeting to be held on 26 October 2020 (“GM”).
