On March 4, 2024, Frontier Lithium Inc. announced its definitive agreement with Mitsubishi Corporation to establish a joint venture partnership for the PAK Lithium Project mine and planned lithium chemicals conversion facility. This joint venture partnership delivers immediate and short-term financing to advance the first fully integrated lithium mining and processing operation in Ontario. Though this agreement, Mitsubishi will acquire an initial 7.5% interest in the Project for $25 million and has the option to increase its interest to 25% based on the valuation shown in a definitive feasibility study being commissioned on the Project.
Frontier Lithium Inc. an exploration and development mining company situated in Northern Ontario, which is a Tier 1 mining jurisdiction. The company’s PAK Lithium Project represents North America's highest-grade lithium resource and is the largest in Ontario by size.
Mitsubishi Corporation is a global integrated business enterprise.
Osler, Hoskin & Harcourt LLP advised Frontier Lithium Inc with a team consisting of Alan Hutchison, Patrick Sullivan, Peter Horemans (Corporate) and Kim Maguire (Tax).