Mergers and Acquisitions

Frontier Lithium Inc. in its Joint Venture with Mitsubishi Corporation to develop the PAK Lithium Project

Frontier Lithium Inc.
Key Contact
Alan Hutchison

Partner, Corporate, Vancouver

Team
Kim Maguire

Partner, Tax, Vancouver

Peter Horemans

Associate, Corporate, Vancouver

Patrick J. Sullivan

Partner, Corporate, Vancouver

 

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).

Value
$25 million
Date Closed
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Lead Office
Vancouver
Key Contact
Alan Hutchison

Partner, Corporate, Vancouver

Team
Kim Maguire

Partner, Tax, Vancouver

Peter Horemans

Associate, Corporate, Vancouver

Patrick J. Sullivan

Partner, Corporate, Vancouver